COSTA MESA, Calif., Sept. 19, 2012 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (Nasdaq:TTMI), a major global printed circuit board manufacturer, today announced that it and certain of its foreign subsidiaries in Hong Kong have entered into a new credit facility dated September 14, 2012, with a syndicate of eight banks led by The Hongkong and Shanghai Banking Corp. Ltd. The new credit facility totals $540 million and consists of three tranches as follows:
- a $370 million four-year term loan facility with interest payable at a rate of LIBOR plus 2.38 percent per year;
- a $90 million three and one half-year revolving credit facility with interest payable at a rate of LIBOR plus 2.38 percent per year;
- an $80 million or equivalent in other currencies four-year letters of credit facility granting up to 540 days for the purpose of equipment purchases and up to 150 days for other general purposes.
About TTM TechnologiesTTM Technologies, Inc. is a major global printed circuit board manufacturer, focusing on quick-turn and technologically advanced PCBs and the backplane and sub-system assembly business. TTM stands for time-to-market, representing how the company's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttmtech.com. The TTM Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5691
CONTACT: Steve Richards, CFO 714-327-3000