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TTM Technologies Annouces Partial Debt Prepayment
March 9, 2016 | TTM Technologies, Inc.Estimated reading time: Less than a minute
TTM Technologies, Inc., a leading global printed circuit board manufacturer, today announced the principal payment of $74.1 million toward the $950 million Senior Secured Term Loan B that was used to finance the acquisition of Viasystems on May 31, 2015.
"As planned, we were pleased to utilize a portion of the $118 million in free cash flow that TTM generated in the fourth quarter of 2015 toward our goal of debt reduction as we continue to focus on deleveraging the balance sheet," said Todd Schull CFO of TTM.
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. 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.
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