Exhibit 99.1
MKS Instruments Completes Repricing of Secured Term Loan B
Andover, MA, October 3, 2023 — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, announced today that it successfully completed the repricing of its existing $3.6 billion secured tranche B term loan. The lenders have agreed to an amendment that results in a reduction of the interest rate for the tranche B term loans from SOFR plus a credit spread adjustment plus 275 basis points to SOFR plus 250 basis points. The repricing eliminated the credit spread adjustment applicable to SOFR borrowings of the tranche B term loans which previously added 10 basis points, 15 basis points, and 25 basis points to one-month, three-month and six-month interest periods, respectively.
Based on the current interest rate, the annualized non-GAAP interest expense savings from this repricing is $10.7 million.
“We are pleased with the market demand for our Term Loan B, and today’s actions are consistent with our long-standing track record of actively optimizing our capital structure, including reducing our interest expense through repricing,” said Seth H. Bagshaw, Executive Vice President and Chief Financial Officer.
JP Morgan acted as the sole lead arranger and sole bookrunner for the tranche B term loan repricing.
About MKS Instruments
MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at www.mks.com.