TTM Announces Pricing of $375 Million of Its 5.625% Senior Notes Due 2025
September 15 2017 - 4:06PM
TTM Technologies, Inc. (NASDAQ:TTMI) ("TTM") announced today that
it has priced $375 million in aggregate principal amount of its
5.625% senior notes due 2025 (the “Notes”) in a private offering
that is exempt from registration under the Securities Act of 1933,
as amended (the “Securities Act”). The sale of the Notes is
expected to close on September 28, 2017, subject to customary
closing conditions.
The Notes will be the senior unsecured obligations of TTM and
will be guaranteed by TTM’s subsidiaries that guarantee its senior
secured credit facilities, subject to certain exceptions. TTM
intends to use the net proceeds of the offering of the Notes,
together with borrowings from its previously announced $350 million
senior secured term loan expected to be entered into concurrently
with the closing of this offering, to refinance the indebtedness
outstanding under TTM’s existing term loan facility and repay a
portion of the amounts outstanding under TTM’s U.S. senior secured
revolving credit facility, as well as to pay related fees and
expenses.
The Notes and related guarantees are being offered in a private
placement, solely to persons believed to be qualified institutional
buyers in reliance on Rule 144A under the Securities Act or outside
the United States to non-U.S. persons in compliance with Regulation
S under the Securities Act. The Notes and related guarantees have
not been registered under the Securities Act or the securities laws
of any other jurisdiction and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements of the Securities Act and applicable
state securities or blue sky laws and foreign security laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any Notes, nor shall there be any
sales of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
This press release is being issued pursuant to, and in accordance
with, Rule 135c under the Securities Act.
Forward-looking Statements This release
contains forward-looking statements that relate to future
events. TTM cautions you that such statements are simply
predictions and actual events or results may differ materially.
These statements reflect TTM’s current expectations, and TTM does
not undertake to update or revise these forward
looking statements, even if experience or future changes make
it clear that any projected results expressed or implied in this or
other TTM statements will not be realized. Further, these
statements involve risks and uncertainties, many of which are
beyond TTM’s control, which could cause actual results to differ
materially from the forward-looking statements.
Statements related to, among other things, the consummation of the
offering of the Notes, the consummation of the new senior secured
term loan, and potential changes in market conditions constitute
forward-looking statements. For a description of additional factors
that may cause TTM’s actual results, performance or expectations to
differ from any forward-looking statements, please review the
information set forth in the “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of the Company’s public reports filed with the
Securities and Exchange Commission.
About TTM 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.
IR ContactSameer DesaiSenior Director,
Corporate Development & Investor
Relationssameer.desai@ttmtech.com714-327-3050
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