debt
confidence high
sentiment neutral
materiality 0.60
TTM Technologies closes $500M 6.750% senior notes due 2034 to fund EDS and Swiss Tech acquisitions
TTM TECHNOLOGIES INC
- Issued $500M aggregate principal of 6.750% senior notes due Oct 1, 2034, priced at par.
- Proceeds plus $300M term loan A and $800M term loan B to fund EDS Intermediate Holding and Swiss Technology Group purchases.
- Special mandatory redemption at 100% plus accrued interest if EDS deal not closed by Nov 15, 2026 (extendable to May 15, 2027).
- Pre-Oct 1, 2029, company may redeem up to 40% of notes at 106.750% with equity offering proceeds.
- Indenture restricts dividends and other capital-stock payments; notes rank senior unsecured.