TTM offers to buy back $375 million 5 5/8% notes due 2025

By Rebecca Melvin

New York, Feb. 23 – TTM Technologies Inc. is offering to purchase for cash any and all of its outstanding 5 5/8% senior notes due Oct. 1, 2025, according to an offering term sheet.

The company is also soliciting consents for the proposed amendments to the related indenture. The offer and consent solicitation will expire at 12 p.m. ET on March 22.

The company is offering to pay a tender offer consideration of $979.30 per $1,000 principal amount of notes, which when combined with a $50 early tender payment equals a total consideration of $1,029.30 per $1,000 principal amount of notes.

Holders who validly tender their notes and deliver their consents on or prior to 5 p.m. ET on March 8 are eligible for the early tender payment.

For the proposed amendments to be adopted, consents must be received for at least a majority of the aggregate principal amount of the notes.

J.P. Morgan Securities LLC is dealer manager and solicitation agent for the offer.

Costa Mesa, Calif.-based TTM is a maker of printed circuit board, or PCB.

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