MKS Instruments Inc.
MKS Instruments Announces $1.4 Billion Convertible Notes Offering
Summary
MKS Instruments, Inc. has completed a private offering of $1.4 billion aggregate principal amount of its convertible senior notes due 2030. The offering included the full exercise of a $200 million option to purchase additional notes. The net proceeds from the offering were approximately $1.374 billion, after deducting initial purchasers' discounts and estimated offering expenses. MKS intends to use the proceeds to repay approximately $1.206 billion in borrowings under its First Lien USD tranche B term loan, together with accrued interest, and for general corporate purposes. The notes, which are unsecured, senior obligations of MKS, bear interest at a rate of 1.25% per annum, payable semi-annually in arrears. The initial conversion price is approximately $154.32 per share, representing a premium of about 30% over the last reported sale price of MKS common stock. The offering and sale of the notes have not been registered under the Securities Act or any state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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About MKS Instruments Inc.
MKS Instruments Inc. designs and manufactures instruments, subsystems, and process control solutions for advanced manufacturing processes. The company's primary function is to provide essential technologies for manufacturers of semiconductors, industrial technologies, life and health sciences, and other advanced products. MKS Instruments focuses on critical areas like vacuum and gas technologies, photonics, and laser solutions, enabling precise measurement, control, and analysis crucial for product quality and efficiency. MKS Instruments plays a vital role in the semiconductor industry by offering products that ensure the precision and accuracy required for advanced fabrication processes. The company's innovative technologies are also significant in areas such as aerospace, defense, and research sectors, where precision and reliability are paramount. With a legacy dating back to 1961, MKS Instruments has cemented its position in the financial markets as a trusted provider of advanced technology solutions. Its contributions are pivotal in supporting the development of next-generation technologies, making it a key player in driving technological advancement and efficiency across multiple industries.
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