Exhibit 99.1
MKS Instruments Completes Repricing and Makes a $110 Million
Voluntary Prepayment on its Secured Term Loan B
Andover, MA, July 23, 2024 — 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 $2.6 billion and €0.8 billion secured tranche B term loans maturing in 2029. The repricing results in a reduction of the interest rate for the USD tranche B term loans from SOFR plus a margin of 250 basis points to SOFR plus 225 basis points and EUR tranche B term loans from EURIBOR plus a margin of 300 basis points to EURIBOR plus 275 basis points.
In addition, immediately prior to the repricing, MKS made a voluntary prepayment of $110 million on its secured tranche B term loans, consisting of $69 million to the USD Term Loan B and €38 million to the EUR Term Loan B.
Based on the current interest rates, the annualized cash interest savings from the combined actions is approximately $17 million.
“We are pleased with the results of our Term Loan B repricing and today’s actions are consistent with our long-standing track record of proactively seeking opportunities to reduce costs and maximize free cash flow to repay debt,” said John T.C. Lee, President and Chief Executive Officer.
JPMorganChase, Barclays, BofA Securities., Citibank, N.A., HSBC Securities (USA) Inc., Mizuho, Morgan Stanley Senior Funding, Inc, and PNC Capital Markets LLC acted as the joint lead arrangers and joint bookrunners 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,
