MKS Instruments makes $75 million voluntary prepayment on term loan

By Sarah Lizee

Olympia, Wash., Aug. 31 – MKS Instruments, Inc. made a $75 million voluntary prepayment on its term loan on Thursday, according to press release.

The prepayment is in addition to a voluntary principal prepayment of $50 million made on July 11 and reduces the outstanding principal amount to $448 million.

The term loan had an original principal amount of $780 million.

“In just over a year since loan origination, we have now made six voluntary pre-payments totaling $325 million and, coupled with the scheduled payments and three repricings, we have reduced our annualized non-GAAP interest expense by over 55%, demonstrating our continued focus on deleveraging our balance sheet and reducing our cost of capital,” senior vice president and chief financial officer Seth H. Bagshaw said in the release.

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.

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