Loan & DebtJun 3, 2026, 05:02 PM
TTM Technologies Secures New $1.0B Revolver & Upsized $400M Term Loan
AI Summary
TTM Technologies, Inc. announced the closing of a new $1.0 billion cash flow senior secured revolving credit facility and a repriced, upsized $400 million senior secured Term Loan B. These new credit facilities replace existing debt, with the Term Loan B reducing the company's cost of borrowing by 50 basis points. The company stated that these actions strengthen its financial position, provide flexibility for strategic initiatives, and enhance its long-term capital structure to support sustainable growth.
Key Highlights
- TTM Technologies secured a new $1.0 billion cash flow senior secured revolving credit facility.
- The company also obtained a repriced and upsized $400 million senior secured Term Loan B.
- The Term Loan B interest rate was reduced by 50 basis points to Term SOFR + 1.75%.
- The new revolver replaces prior $150 million U.S. and $150 million Asia asset-based lending facilities.
- The Term Loan Facility matures on May 30, 2030, and the Revolving Credit Facility matures in May 2031.
- Proceeds from the Term Loan Facility were used to refinance the prior term loan and pay related fees.
- The new facilities are expected to provide meaningful cash interest savings and financial flexibility.
Price Impact
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