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TTM Technologies, Inc., a leading global manufacturer of technology products, including mission systems, radio frequency (RF) components, RF microwave/microelectronic assemblies, and technologically advanced interconnect products, including printed circuit boards (PCBs) and substrates, announced that it has completed the closing of a new $1.0 billion cash flow senior secured revolver and a repriced and upsized senior secured Term Loan B (TLB) in the aggregate principal amount of $400 million.
“Consistent with plans communicated during our May 27th Investor Day presentation, we are excited to announce that we have brought on new credit facilities to strengthen our financial position while providing flexibility to pursue strategic initiatives,” said Dan Boehle, Executive Vice President and Chief Financial Officer. “Together with our solid balance sheet and healthy operational performance, we have enhanced our long-term capital structure to support further sustainable growth and maximize shareholder value in 2026 and beyond.”
TLB Highlights
- Repriced and upsized TLB due May 2030 in the aggregate principal amount of $400 million.
- The new TLB has been priced at Term SOFR+ 1.75%, a reduction of 50 basis points from our prior term loan B commitments.
- Reduced pricing is anticipated to provide meaningful cash interest savings for the remaining term.
Cash Flow Revolver Highlights
- The maximum availability under the multi-currency cash flow senior secured revolving credit facility is $1.0 billion, maturing in May 2031.
- The new revolver replaced our prior $150 million U.S. and $150 million Asia asset-based-lending (ABL) facilities.
