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Tuesday, January 31, 2023

TTM Technologies (NASDAQ: TTMI) Declares Offering Of Senior Notes

TTM Technologies, Inc. (NASDAQ: TTMI) declared that it is planning to offer $500 million in total principal amount of senior notes due 2029 in a private offering. TTM has disclosed that the Notes will be senior unsecured commitments of TTM.

The units of TTM’s will be the guarantor of the offering that promise its commitments under its term loan due September 2024 and its U.S. asset-based revolving credit facility. The offering is only for the people who are qualified enough to get this offer and also for the non-US person as per Regulation S under the Securities Act.

Shares of TTM Technologies (NASDAQ: TTMI) plunged 0.48% during the trading session of Monday. TTM has reported the Return on Assets, Equity, and Investment of 5.90%, 15.10%, and 4.20%, respectively. Its Gross Margin is 17.10%. TTM revealed that the Profit and Operating Margin of the firm stood at 9.70%, and 5.00%. The market capitalization of TTM Technologies reached $1.52 billion at the time of writing.

The firm is planning to use the profit from the offering for various purposes. It will use the profit to buy all of the outstanding $375 million total principal amounts of 5.625% Senior Notes of TTM due 2025. Furthermore, it is intending to convert in full any residual Existing Notes after the completion or expiry of the Tender Offer.

Furthermore, TTMI has also decided to use the profit from the offering to repay the complete amount unpaid under the U.S. ABL Facility and also reimburse associated payments, costs, and expenditures.

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