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MKSI

MKS Instruments

$48.76

-0.97 (-1.95%)

16:18
10/03/16
10/03
16:18
10/03/16
16:18

MKS Instruments makes voluntary $60M prepayment on term loan

MKS Instruments made a $60M voluntary principal prepayment on its term loan. The prepayment was made through a tax efficient repatriation of cash from international operations. This prepayment is in addition to a scheduled principal payment of $1.8 million and reduces the outstanding principal amount of the term loan to $668 million as of September 30, 2016. In addition, the Company also entered into an interest rate swap agreement to fix the rate on approximately 50% of its remaining outstanding term loan balance. The swap converts the floating rate on $335 million of the outstanding principal amount of the term loan to a fixed interest rate of 4.70% through September 2020. "This represents our second voluntary term loan prepayment in the last four months, bringing our total voluntary prepayments to $110 million, and demonstrates our continued commitment to deleveraging our balance sheet and minimizing our cost of capital," said Seth H. Bagshaw, Vice President and Chief Financial Officer. "The execution of the interest rate swap aligns with our strategy to prudently manage our interest rate risk."

MKSI MKS Instruments
$48.76

-0.97 (-1.95%)

01/04/16
01/04/16
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American States Water (AWR) initiated with an Underweight at Barclays... Atlassian (TEAM) initiated with a Buy at Canaccord... Belmond Ltd (BEL) initiated with an Underperform at Telsey Advisory... Callaway Golf (ELY) initiated with a Buy at Ladenburg... Choice Hotels (CHH) initiated with a Market Perform at Telsey Advisory... FireEye (FEYE) initiated with a Buy at Summit Research... Five9 (FIVN) initiated with an Outperform at Northland... Hilton (HLT) initiated with an Outperform at Telsey Advisory... Hyatt (H) initiated with a Market Perform at Telsey Advisory... InterContinental (IHG) initiated with a Market Perform at Telsey Advisory... MEG Energy (MEGEF) initiated with an Outperform at RBC Capital... MKS Instruments (MKSI) initiated with an Overweight at Pacific Crest... Marriott Vacations (VAC) initiated with a Market Perform at Telsey Advisory... Marriott (MAR) initiated with a Market Perform at Telsey Advisory... Park National (PRK) initiated with a Neutral at Boenning & Scattergood... Planet Fitness (PLNT) initiated with a Buy at Roth Capital... Skechers (SKX) initiated with a Market Perform at Cowen... Skyworks (SWKS) reinstated with an Overweight at Barclays... Veeva (VEEV) initiated with a Buy at Needham... Wyndham (WYN) initiated with an Outperform at Telsey Advisory... XO Group (XOXO) initiated with a Buy at Axiom.
02/25/16
PACS
02/25/16
NO CHANGE
PACS
MKS Instruments acquisition positive, says Pacific Crest
After MKS agreed to buy Newport, Pacific Crest says the deal increases the number of sales channels that MKS can exploit and diversifies its offerings away form semiconductors. The firm thinks that MKS' stock can rise over the long-term ,and it keeps a $42 price target and Overweight rating on the shares.
05/12/16
STFL
05/12/16
NO CHANGE
STFL
MKS Instruments price target raised to $49 from $43 at Stifel
Stifel raised its price target on MKS to reflect the close of the company's acquisition of Newport. The firm expects MKS to meet many of its cost and revenue synergy targets, and it expects Newport to grow under MKS' auspices. Stifel keeps a Buy rating on the shares.
07/28/16
DOTC
07/28/16
DOWNGRADE
DOTC
Neutral
MKS Instruments downgraded to Neutral from Buy at Dougherty

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