TTM Technologies, Inc. has entered into a new Second Amended and Restated Credit Agreement, securing a total of $1.4 billion in financing. This new agreement refinances the company's existing debt, increases its total credit capacity and liquidity, extends its debt maturity profile, and reduces its cost of borrowing.
Key Details
- New Credit Facilities: The agreement, effective June 1, 2026, establishes a $400.0 million senior secured term loan facility and a new $1.0 billion senior secured revolving credit facility.
- Term Loan Refinancing: The $400.0 million term loan refinances the previous $340.4 million outstanding term loan and reduces the interest rate margin by 50 basis points to Term SOFR plus 1.75%. The maturity date remains May 30, 2030.
- Expanded Revolver: The new $1.0 billion revolving credit facility, maturing in May 2031, replaces two existing asset-based facilities that totaled $300.0 million. This significantly increases the company's available liquidity for working capital and general corporate purposes.