Entegris in talks regarding reduction of revolver to $60 million

By Sara Rosenberg

New York, May 3 - Entegris Inc. entered into discussions with lenders about reducing the size of its revolving credit facility to $60 million from $121.7 million, according to a news release.

Wells Fargo is the agent on the deal.

"As previously announced, we expect to completely repay all outstanding amounts under the credit facility by the end of the third quarter of this year," Gregory Graves, executive vice president and chief financial officer, said in the release.

"Based on current business trends, we no longer need such a large credit commitment and do not want to pay the fees associated with that level of commitment. We do not anticipate needing to borrow under the credit agreement after we have paid off our outstanding balances."

Entegris is a Billerica, Mass.-based provider of products for purifying, protecting and transporting critical materials used in processing and manufacturing in the semiconductor and other high-tech industries.

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