TTM Technologies $265 million credit facility expected early October

By Sara Rosenberg

New York, Sept. 18 - TTM Technologies Inc.'s proposed $265 million credit facility is now anticipated to be early October business, as opposed to previous targets that had the launch coming as soon as late September, according to a market source.

UBS is the lead bank on the deal.

As committed, the facility consists of a $225 million term loan B and a $40 million revolver.

Proceeds from the credit facility, along with cash on hand, will be used to fund the acquisition of the Tyco Printed Circuit Group business unit from Tyco International Ltd. for $226 million.

The acquisition is subject to contractual closing conditions, regulatory approvals and expiration of the requisite waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

TTM Technologies is a Santa Ana, Calif., supplier of time-critical and technologically advanced printed circuit boards to original equipment manufacturers and electronics manufacturing services companies. Tyco Printed Circuit Group is manufacturer of high-technology printed circuit boards for the military, aerospace and commercial markets.

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