Entegris $895 million 5.95% eight-year notes whispered at 7½% area yield, 90.1-91.5 offer price

By Abigail W. Adams

Portland, Me., June 16 – Entegris Inc. plans to price $895 million of eight-year non-call three-year senior notes (expected Ba2/BB/BB) in a Thursday drive-by.

Initial guidance has the deal coming with a 5.95% coupon and a discounted offer price of 90.1 to 91.5 for a yield in the 7½% area, according to a market source.

Morgan Stanley & Co. LLC, Barclays, Bank of America Securities LLC, Citigroup Global Markets Inc., PNC Capital Markets LLC, Truist Securities Inc. and Wells Fargo Securities LLC are bookrunners for the Rule 144A and Regulation S offering.

There will be an investor conference call at noon ET with pricing expected thereafter.

Proceeds will be used to finance the acquisition of CMC Materials.

Entegris is a Billerica, Mass.-based manufacturing company of products that purify, protect and transport materials used in the semiconductor devise fabrication process.

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