TTM Announces Pricing of $375 Million of Its 5.625% Senior Notes Due 2025

GlobeNewswire 15-Sep-2017 4:06 PM

COSTA MESA, Calif., Sept. 15, 2017 (GLOBE NEWSWIRE) -- 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 TTMs 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 TTMs existing term loan facility and repay a portion of the amounts outstanding under TTMs 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 containsforward-lookingstatements 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 TTMs current expectations, and TTM does not undertake to update or revise theseforward lookingstatements, 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 TTMs control, which could cause actual results to differ materially from theforward-lookingstatements. 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 TTMs actual results, performance or expectations to differ from any forward-looking statements, please review the information set forth in the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of the Companys 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 Contact Sameer Desai Senior Director, Corporate Development & Investor Relationssameer.desai@ttmtech.com714-327-3050

Source: TTM Technologies