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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.
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