secwatch.observer — SEC 8-K summary
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Issuer:     TTM TECHNOLOGIES INC (TTMI)
CIK:        0001116942
Form:       8-K
Filed at:   2023-05-30T23:59:59+00:00
Accession:  0001193125-23-156582
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TTM refinances $350M term loan and $150M ABL facility, extending maturities to 2030/2028
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/0001193125-23-156582-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1116942/000119312523156582/d468731d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-156582

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