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.