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MKS Instruments Lowers Debt on Loan Repayment & Reprice
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MKS Instruments, Inc.’s (MKSI - Free Report) deleveraging strategy remains on track, as the company has successfully completed its eighth voluntary prepayment and fourth repricing of secured term loan.
Over the last three months, this Zacks Rank #2 (Buy) stock appreciated 20.6%, outperforming 7.3% growth recorded by the industry.
The company is poised to grow on the back of sturdier semiconductor business, stronger innovation, superior customer relationships, business expansion in high-growth markets and balance sheet solidification.
Inside the Headlines
MKS Instruments reduced its debt by $50 million with the aforementioned term-loan prepayment, reducing its outstanding principle to $348 million (as of Mar 31, 2018) from the $780 million, at origination.
In addition to this, the company noted that the lenders have settled to an adjustment that results in a cut down on the term loans’ interest spread by 25 basis points to LIBOR plus 1.75% from LIBOR plus 2.00%.
Both the above-mentioned moves are in sync with the company’s efforts to lower the cost of capital and deleverage its balance sheet. Since origination of these initiatives (Apr 29, 2016), MKS Instruments has lowered its non-GAAP interest expense by more than 70%, on a yearly basis. The company made voluntary prepayments worth $425 million, during the same time frame.
Agilent Technologies, Inc. (A - Free Report) carries a Zacks Rank of 2 and its EPS is estimated to rise 10.8% over the next three to five years.
CACI International, Inc. (CACI - Free Report) is another Zacks #2 Ranked player. The company’s EPS will likely be up 10% during the same time frame.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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MKS Instruments Lowers Debt on Loan Repayment & Reprice
MKS Instruments, Inc.’s (MKSI - Free Report) deleveraging strategy remains on track, as the company has successfully completed its eighth voluntary prepayment and fourth repricing of secured term loan.
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Over the last three months, this Zacks Rank #2 (Buy) stock appreciated 20.6%, outperforming 7.3% growth recorded by the industry.
The company is poised to grow on the back of sturdier semiconductor business, stronger innovation, superior customer relationships, business expansion in high-growth markets and balance sheet solidification.
Inside the Headlines
MKS Instruments reduced its debt by $50 million with the aforementioned term-loan prepayment, reducing its outstanding principle to $348 million (as of Mar 31, 2018) from the $780 million, at origination.
In addition to this, the company noted that the lenders have settled to an adjustment that results in a cut down on the term loans’ interest spread by 25 basis points to LIBOR plus 1.75% from LIBOR plus 2.00%.
Both the above-mentioned moves are in sync with the company’s efforts to lower the cost of capital and deleverage its balance sheet. Since origination of these initiatives (Apr 29, 2016), MKS Instruments has lowered its non-GAAP interest expense by more than 70%, on a yearly basis. The company made voluntary prepayments worth $425 million, during the same time frame.
Other Stocks to Consider
Some other top-ranked stocks in the Zacks Computer and Technology sector are listed below:
Applied Materials, Inc. (AMAT - Free Report) sports a Zacks Rank #1 (Strong Buy). The company’s earnings per share (EPS) are projected to grow 13.3% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Agilent Technologies, Inc. (A - Free Report) carries a Zacks Rank of 2 and its EPS is estimated to rise 10.8% over the next three to five years.
CACI International, Inc. (CACI - Free Report) is another Zacks #2 Ranked player. The company’s EPS will likely be up 10% during the same time frame.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>