--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-156582" form_type: "8-K" ticker: "TTMI" cik: "0001116942" company_name: "TTM TECHNOLOGIES INC" filed_at: "2023-05-30T23:59:59+00:00" generated_at: "2026-06-14T11:14:23.952880+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # TTM refinances $350M term loan and $150M ABL facility, extending maturities to 2030/2028 ## Summary - New $350M term loan facility matures May 2030, priced at Term SOFR + 2.75%, with 1% original issue discount. - New $150M ABL revolving facility matures May 2028, borrowing rate Term SOFR + 1.35% to 1.60%. - Proceeds used to refinance existing $356M term loan due Sept 2024; annual cash interest expense to increase ~$0.9M. - Non-cash interest expense to increase ~$0.3M; Q2 2023 non-cash charge of ~$1.3M for write-off of debt issuance costs. - JPMorgan acted as administrative agent for both facilities; joint lead arrangers include BofA, Barclays, Truist, HSBC. ## SEC filing metadata - accession: 0001193125-23-156582 - form_type: 8-K - ticker: TTMI - cik: 0001116942 - company_name: TTM TECHNOLOGIES INC - filed_at: 2023-05-30T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 3.03, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/0001193125-23-156582-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/d468731d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-156582 - JSON: https://secwatch.observer/filing/0001193125-23-156582.json - Plain text: https://secwatch.observer/filing/0001193125-23-156582.txt ## Key facts - Debt Financings TTM TECHNOLOGIES INC incurred revolving credit of $150.0 million with JPMorgan Chase Bank, N.A. at Term SOFR plus a margin ranging from 1.35% to 1.60% maturing May 2028. - Instrument: revolving credit - Principal: $150.0 million - Counterparty: JPMorgan Chase Bank, N.A. - Rate: Term SOFR plus a margin ranging from 1.35% to 1.60% - Maturity: May 2028 - Event: incurrence source text: ABL Credit Agreement On May 30, 2023, the Company entered into an Amended & Restated ABL Credit Agreement by and among the Company, the several lenders from time to time parties thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, Barclays Bank PLC, Bank of America, N.A. and Truist Securities, Inc. as Syndication Agents, and HSBC Securities (USA) Inc., as Documentation Agent (the “U.S. ABL Credit Agreement”). The U.S. ABL Credit Agreement provides for a U.S. asset-based revolving credit facility with committed maximum borrowing capacity of $150.0 million (the “New U.S. ABL Facility”) that amends and restates the Company’s existing $150.0 million U.S. asset-based revolving credit facility, which was scheduled to mature in June 2024. The New U.S. ABL Facility includes a letter of credit subfacility with a sublimit of $50 million, provided that at no time may amounts outstanding under the New U.S. ABL Facility exceed in the aggregate $150.0 million or the New U.S. ABL Facility bor evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/0001193125-23-156582-index.htm - Debt Financings TTM TECHNOLOGIES INC incurred term loan of $350.0 million with JPMorgan Chase Bank, N.A. at Term SOFR plus a margin of 2.75% maturing May 2030. - Instrument: term loan - Principal: $350.0 million - Counterparty: JPMorgan Chase Bank, N.A. - Rate: Term SOFR plus a margin of 2.75% - Maturity: May 2030 - Event: incurrence source text: Term Loan Credit Agreement On May 30, 2023 (the “Closing Date”), TTM Technologies, Inc. (the “Company”) entered into an Amended & Restated Term Loan Credit Agreement by and among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto (the “Term Loan Credit Agreement”). The Term Loan Credit Agreement provides for a $350.0 million senior secured term loan credit facility (the “New Term Loan Facility”) that amends and restates the Company’s existing senior secured term loan credit facility that was due to expire in September 2024, under which $355.9 million of indebtedness was outstanding. In addition, the Term Loan Credit Agreement will permit the Company to add one or more senior secured incremental term loan facilities to the New Term Loan Facility subject to the satisfaction of certain conditions. On the Closing Date, the Company used $350.0 million under the New Term Loan Facility, together with cash on hand, to refi evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/0001193125-23-156582-index.htm - Material Agreements TTM TECHNOLOGIES INC entered into "U.S. ABL Credit Agreement" with JPMorgan Chase Bank, N.A., as Administrative Agent, Barclays Bank PLC, Bank of America, N.A. and Truist Securities, Inc. as Syndication Agents, and HSBC Securities (USA) Inc., as Documentation Agent valued at $150.0 million (effective 2023-05-30). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent, Barclays Bank PLC, Bank of America, N.A. and Truist Securities, Inc. as Syndication Agents, and HSBC Securities (USA) Inc., as Documentation Agent - Value: $150.0 million - Effective: 2023-05-30 source text: On May 30, 2023, the Company entered into an Amended & Restated ABL Credit Agreement by and among the Company, the several lenders from time to time parties thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, Barclays Bank PLC, Bank of America, N.A. and Truist Securities, Inc. as Syndication Agents, and HSBC Securities (USA) Inc., as Documentation Agent (the “U.S. ABL Credit Agreement”). evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/0001193125-23-156582-index.htm - Material Agreements TTM TECHNOLOGIES INC entered into "Term Loan Credit Agreement" with JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto valued at $350.0 million (effective 2023-05-30). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto - Value: $350.0 million - Effective: 2023-05-30 source text: On May 30, 2023 (the “Closing Date”), TTM Technologies, Inc. (the “Company”) entered into an Amended & Restated Term Loan Credit Agreement by and among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto (the “Term Loan Credit Agreement”). evidence_url: https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/0001193125-23-156582-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.