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TTM Amends Asset-Backed Loan Agreements
June 7, 2019 | Globe NewswireEstimated reading time: Less than a minute
TTM Technologies, Inc. has amended its asset backed loan (ABL) agreements for both its US and Asia based ABLs. The maximum availability under each ABL is $150 million. The amendments extend the maturity date to 2024 from the current 2020 for both agreements. In addition, the borrowing rate on the US ABL was reduced from LIBOR plus a margin ranging from 1.25% to 1.75% to LIBOR plus a margin ranging from 1.25% to 1.5%. The borrowing rate on the Asia ABL was unchanged at LIBOR plus a margin of 1.4%. Details of these amendments can be found in the 8k filing concurrent with this release.
About TTM
TTM Technologies, Inc. is a leading global printed circuit board manufacturer, focusing on quick-turn and technologically advanced PCBs, backplane assemblies and electro-mechanical solutions as well as a global designer and manufacturer of RF and microwave components and assemblies. TTM stands for time-to-market, representing how TTM's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttm.com.
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