Entegris launches $2.3 billion term loan B at SOFR plus 250 bps

By Sara Rosenberg

New York, Aug. 8 – Entegris Inc. held a lender call at noon ET on Tuesday to launch a $2,318,499,072.05 senior secured covenant-lite first-lien term loan B due July 6, 2029 that is talked at SOFR plus 250 basis points with a 0% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, 0 bps CSA and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc. is the left lead arranger and agent on the deal.

Commitments/consents are due at 5 p.m. ET on Aug. 16, the source added.

Proceeds will be used to reprice an existing term loan B due 2029 down from SOFR plus 275 bps with a 0% floor. The loan was repriced in March to SOFR plus 275 bps from SOFR plus 300 bps.

Entegris is a Billerica, Mass.-based supplier of advanced materials and process solutions for the semiconductor and other high-tech industries.

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