Entegris shops $450 million 8.25-year senior notes deal; pricing seen Thursday or Friday

By Paul Deckelman

New York, Nov. 1 – Entegris, Inc. plans to sell $450 million of senior unsecured notes due in early 2026, with pricing on the deal expected either Thursday or Friday, high-yield syndicate sources said Wednesday.

The transaction will be marketed to prospective investors via an investor call scheduled for 10 a.m. ET Thursday, plus small-group meetings on Thursday, with pricing expected thereafter.

That 8.25-year Rule 144A/Regulation S for life deal will be brought to market via left lead bookrunner Goldman Sachs & Co., with Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. also serving as bookrunners.

The notes will have three years of call protection, first becoming callable at par plus 75% of the coupon, then par plus 50% of the coupon, par plus 25% of the coupon, and then finally at just par.

The company, a Billerica, Mass.-based provider of specialty chemicals and advanced materials solutions for the microelectronics industry, plans to use the new-deal proceeds to redeem its $360 million of currently outstanding 6% notes due 2022 at a price of 104.5 plus accrued interest, to pay fees and expenses related to the redemption of the 2022 notes, and for general corporate purposes.

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