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TTM Technologies, Inc. announced today that it has begun to syndicate a $350 million Senior Secured Term Loan. Consummation of the New Term Loan and actual terms of the New Term Loan, including principal amount, interest rate and maturity, will depend on market and other conditions.
TTM intends to apply the proceeds from the New Term Loan, together with any proceeds from potential additional debt financing, to refinance the indebtedness outstanding under TTM’s existing term loan facility and reduce the amounts outstanding under TTM’s revolving credit facilities, as well as to pay related fees, costs and expenses.
Barclays Bank PLC and JPMorgan Chase Bank, N.A. will act as joint lead arrangers and joint book runners for the New Term Loan. Deutsche Bank Securities Inc. and SunTrust Robinson Humphrey, Inc. will act as co-arrangers.
TTM Technologies, Inc. is a major global printed circuit board manufacturer, focusing on quick-turn and technologically advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM stands for time-to-market, representing how TTM's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.
Pete Starkey, I-Connect007
The sun was shining in Dusseldorf as delegates returned to the conference room for the second day of the EIPC 50th Anniversary Conference. There were very few empty chairs—even those who had enjoyed a late networking session in the hotel bar had taken their seats as Paul Waldner opened the proceedings with Session 5, on a theme of future PCB design, material and processes for the PCB supply chain.
Barry Matties, I-Connect007
The I-Connect007 team had the pleasure of meeting with Takayuki Hidehira at the MicroCraft booth at productronica, where they had on display their new eight-probe flying tester, fully equipped with autoloader and new ease-of-use software. Takayuki discusses where flying probe testers currently stand in the market and MicroCraft’s observation of the rise of captive PCB shops in Japan.
Dan Beaulieu, D.B. Management Group
I recently sat down with Artnet Pro Co-owner Meir Polack to discuss his company's move to represent Altix in North American, South America and parts of Asia. Artnet has traditionally sold pre-owned Orbotech and Camtek equipment, especially LDIs, but due to the increasing competitiveness of this high-end market they decided to seek out the best alternative in new DI equipment.