Four Decades for Justice
On January 28, 2019, Entegris Inc. (“Entegris”) and Versum Materials Inc. (“Versum”) announced that they have entered into a stock‑for‑stock merger agreement under which Entegris and Versum will merge to form a company with a combined value of about $9 billion. Cravath is representing Morgan Stanley in connection with the arrangement of up to $987 million of credit facilities that will be made available to Entegris in order to refinance existing Versum indebtedness and an amendment to the Entegris existing credit facility to permit the assumption of existing Versum indebtedness.
The Cravath team included partner Tatiana Lapushchik and associate Kelly M. Smercina. Robin M. Gimm also worked on this matter.
Deals & Cases
July 06, 2022
Cravath represented the administrative agents, joint lead arrangers and joint bookrunners, in connection with the arrangement of $3.07 billion of senior secured credit facilities and a $275 million senior unsecured bridge facility made available to Entegris, Inc., a leading supplier of advanced materials and process solutions for the semiconductor and other high‑technology industries, in connection with its acquisition of CMC Materials, Inc. The facilities consisted of a $2.495 billion senior secured term loan facility, an upsized $575 million senior secured revolving credit facility and a $275 million senior unsecured bridge facility. The transactions closed on July 6, 2022.
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