MKS Instruments Successfully Completes Third Repricing of Secured Term Loan

Download IconDownload Print IconPrint

MKS Instruments Successfully Completes Third Repricing of Secured Term Loan

Firm News

Related Solutions

We guide clients through today’s ever-changing debt markets, representing them in a broad variety of debt deals that range from complex financial structures to traditional loan transactions.
WilmerHale has been at the forefront of complex financial restructuring and bankruptcy litigation and policy matters for decades.

On July 6, 2017, MKS Instruments, Inc. (NASDAQ:MKSI), a global provider of technologies that enable advanced processes and improve productivity, announced the third successful repricing of its existing secured term loan. The lenders agreed to an amendment that results in a reduction of the interest rate spread on the term loan by 50 basis points from LIBOR plus 2.75% to LIBOR plus 2.25% with a 0.75% floor on LIBOR. In addition, if MKS's Total Leverage Ratio, as defined in its Term Loan Credit Agreement, is below 1.25:1, the interest rate spread will decrease further to LIBOR plus 2.00% with a 0.75% LIBOR floor.

WilmerHale represented MKS in this transaction, with a team that included John Sigel, Justin Ochs, Rosemary Reilly, Jamie Class and Eric French.

View the MKS press release announcing the completion of this transaction.

Notice

Unless you are an existing client, before communicating with WilmerHale by e-mail (or otherwise), please read the Disclaimer referenced by this link.(The Disclaimer is also accessible from the opening of this website). As noted therein, until you have received from us a written statement that we represent you in a particular manner (an "engagement letter") you should not send to us any confidential information about any such matter. After we have undertaken representation of you concerning a matter, you will be our client, and we may thereafter exchange confidential information freely.

Thank you for your interest in WilmerHale.

I Accept Cancel