News Release Details
Entegris Announces Refinancing of Senior Secured Credit Facilities
The Credit Facilities consist of a term loan facility totaling
The term loans bear interest at a rate per annum of, at the Company’s option, either (i) the Base Rate (as defined in the credit agreement) plus an applicable margin of 1.00%, or (ii) the Adjusted Eurodollar Rate (as defined in the credit agreement) plus an applicable margin of 2.00%. The Company’s borrowings pursuant to the revolving line of credit initially bear interest at a rate per annum of, at the Company’s option, either (i) the Base Rate plus an applicable margin of 0.25%, or (ii) the Adjusted Eurodollar Rate plus an applicable margin of 1.25%. Commencing with the completion of the first fiscal quarter ending after the closing, the Company’s borrowings pursuant to the revolving line of credit will bear interest at a rate per annum of, at the Company’s option, either (i) the Base Rate plus an applicable margin of 0.25% to 0.75%, depending on the Company’s senior secured net leverage ratio, or (ii) the Adjusted Eurodollar Rate plus an applicable margin of 1.25% to 1.75%, depending on the Company’s senior secured net leverage ratio.
The Company used approximately
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Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The
words “believe,” “expect,” “anticipate,” “intends,” “estimate,”
“forecast,” “project,” “should,” “may,” “will,” “would” or the negative
thereof and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements include
statements related to the potential use of proceeds from the new senior
secured credit facilities; the Company's capital allocation strategy,
which may be modified at any time for any reason, including share
repurchases, dividends, debt repayments and potential acquisitions; and
other matters. These statements involve risks and uncertainties, and
actual results may differ. These risks and uncertainties include, but
are not limited to, weakening of global and/or regional economic
conditions, generally or specifically in the micro-electronics industry,
which could decrease the demand for our products and solutions; our
ability to meet rapid demand shifts; our ability to continue
technological innovation and introduce new products to meet our
customers' rapidly changing requirements; our concentrated customer
base; our ability to identify, effect and integrate acquisitions, joint
ventures or other transactions; our ability to protect and enforce
intellectual property rights; operational, political and legal risks of
our international operations; our dependence on sole source and limited
source suppliers; the increasing complexity of certain manufacturing
processes; raw material shortages and price increases; changes in
government regulations of the countries in which we operate; fluctuation
of currency exchange rates; fluctuations in the market price of
Entegris’ stock; the level of, and obligations associated with, our
indebtedness; and other risk factors and additional information
described in our filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20181106005904/en/
Source:
Entegris, Inc.
Bill Seymour, +1 978-436-6500
VP of Investor
Relations
irelations@entegris.com