TTM Technologies Completes $500M Senior Notes Offering to Fund Acquisitions

TTM Technologies, Inc. has completed a private offering of $500 million in aggregate principal amount of its 6.750% senior notes due 2034. The net proceeds are intended to be used, along with other borrowings, to fund the previously announced acquisitions of EDS Intermediate Holding, LLC and Swiss Technology Group AG.

Key Details

• Offering: The company issued $500 million of 6.750% senior unsecured notes, which will mature on October 1, 2034. Interest is payable semi-annually on April 1 and October 1.
• Use of Proceeds: Funds will be combined with expected borrowings from a $300 million term loan A and an $800 million term loan B to finance the proposed acquisition of EDS Intermediate Holding, LLC, pay for the acquisition of Swiss Technology Group AG, and cover related fees and expenses.
• Special Redemption: The notes are subject to a special mandatory redemption at 100% of the principal amount if the acquisition of EDS Intermediate Holding, LLC does not close by November 15, 2026 (subject to extension).