MKS Instruments Makes a Voluntary $50 Million Prepayment on its Term Loan
“We are pleased to complete our ninth voluntary prepayment, demonstrating our commitment to reduce our leverage and cost of capital. Since loan origination in 2016, our pre-payments have totaled
Use of Non-GAAP Financial Measure
Non-GAAP interest expense excludes amortization of debt issuance costs. This non-GAAP measure is not in accordance with U.S. Generally Accepted Accounting Principles (GAAP). MKS management believes the presentation of this non-GAAP financial measure is useful to investors for comparing prior periods and analyzing ongoing business trends and financial results. On an annualized basis, GAAP interest savings, at current interest rate, is approximately
This release contains a forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act regarding MKS' interest expense. This statement is only a prediction. Actual events or results may differ materially from those in the forward-looking statement set forth herein. Readers are referred to MKS' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning MKS and its operations. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Senior Vice President, Chief Financial Officer and Treasurer
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Source: MKS Instruments, Inc.