Benzinga | Apr 16, 2021 09:19AM EDT

Entegris Seeks To Raise $400M Via Senior Unsecured Notes To Refinance Debt

* Entegris Inc (NASDAQ: ENTG) plans to offer $400 million senior unsecured notes due 2029 in a private institutional offering.

* The offering proceeds, cash in hand, and $75 million from the company's revolving credit facility will be utilized to repay the $550 million senior unsecured notes due 2026. The proceeds will also be used to pay certain offering expenses.

* Entegris held $580.9 million in cash and equivalents and $1.09 billion in long-term debt as of Dec. 31, 2020.

* Price action: ENTG shares traded lower by 0.25% at $119 in the premarket session on the last check Friday.