Entegris reveals pricing on $75 million asset-based revolver

By Marisa Wong

Madison, Wis., May 1 - Entegris, Inc. entered into on April 30 an asset-based credit agreement with Goldman Sachs Bank USA as administrative agent, collateral agent, lead arranger, bookrunner and syndication agent for senior secured financing of $75 million, according to an 8-K filing with the Securities and Exchange Commission.

As previously announced, the company obtained the asset-based revolving credit facility along with a $460 million seven-year senior secured term loan B to help fund its acquisition of ATMI Inc.

Borrowings under the asset-based revolver bear interest at Libor plus an applicable margin ranging from 175 basis points to 225 bps, depending on quarterly average excess availability. The ABL facility is initially priced at Libor plus 200 bps.

In addition, the company must pay a commitment fee ranging from 25 bps to 33 bps, depending on quarterly average utilization. The initial commitment fee is 33 bps.

The ABL facility may be increased by up to $35 million and is subject to a borrowing base limit.

The facility includes borrowing capacity in the form of letters of credit up to the entire amount of the revolver and up to $20 million in swingline loans.

Entegris is a Billerica, Mass.-based provider of products for purifying, protecting and transporting critical materials used in processing and manufacturing in semiconductor and other high-tech industries.

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