TTM closes $1.0B revolver and upsized $400M TLB at SOFR+1.75%, a 50bps reduction

TTM TECHNOLOGIES INC

New $400M Term Loan B due May 2030 replaces $340.4M outstanding; priced at Term SOFR+1.75%, down 50 bps.
New $1.0B multi-currency cash flow revolver matures May 2031, replacing $150M US and $150M Asia ABL facilities.
Covenants: min interest coverage 2.50x, max leverage 4.50x (5.00x acquisition holiday); quarterly TLB amortization 1% p.a.
Proceeds used to refinance prior term loan, repay ABL facilities, and fund working capital/general corporate purposes.
CFO Dan Boehle cites strengthened financial position and flexibility for strategic initiatives, enhancing long-term capital structure.

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