TTM to repay extra $10 million to $20 million of term loan in March

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – TTM Technologies, Inc. plans to repay an extra $10 million to $20 million of its term loan in March when its required $61.1 million annual payment for 2015 comes due, according to a 10-K filed with the Securities and Exchange Commission.

The company entered into the $950 million term loan, as well as a $150 million U.S. ABL facility and a $150 million Asia ABL facility, on May 31, 2015 at the closing of its acquisition of Viasystems.

TTM is required to make quarterly repayments under the term loan. The first of those repayments, amounting to $2.4 million, was made on Oct. 1.

Based on certain parameters spelled out in the loan agreement, TTM is also required to make the annual payment in March. The company decided it will repay more than due at that time, further reducing future required quarterly scheduled payments, according to the filing.

TTM Technologies is a Costa Mesa, Calif.-based printed circuit board manufacturer.

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