| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for MKS Instruments Inc. > News item |
MKS Instruments amends term loan, ABL facility for more flexible terms
By Marisa Wong
Los Angeles, May 10 – MKS Instruments, Inc. entered into a seventh amendment on May 6 to its term loan credit agreement dated April 29, 2016 with Barclays Bank plc as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.
The amendment increases the company’s capacity to elect to incur additional incremental debt facilities without further consent by the required lenders by (i) increasing the fixed-dollar cap for incremental debt facilities from $250 million to the greater of $600 million and consolidated EBITDA for the most recently ended four fiscal quarter period as of the date those incremental debt facilities are incurred and (ii) increasing the consolidated secured leverage ratio test for additional incremental debt facilities from 2.75x to 3.25x.
The amendment also lets the company reclassify the incurrence of incremental debt facilities between the fixed dollar and ratio-based baskets, subject to compliance with the consolidated secured leverage ratio test.
In addition, the term loan amendment grants the company more flexibility under debt, lien, investment, restricted payment and disposition baskets.
Also on May 6, MKS entered into a second amendment to its ABL credit agreement dated Feb. 1, 2019 with Barclays as administrative agent.
The ABL facility amendment also gives the company added flexibility under debt, lien, investment, restricted payment and disposition baskets.
MKS is an Andover, Mass.-based provider of instruments, subsystems and process control solutions that measure, control, power, monitor and analyze critical parameters of advanced manufacturing processes.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.