TTM Announces Pricing of $500 Million of Its Senior Notes Due 2034

TTM prices $500 million of 6.750% senior notes due 2034 to support its proposed Epiq Solutions acquisition and related corporate funding needs.

Rhea-AI Summary

TTM Technologies (TTMI) has priced $500 million of 6.750% senior unsecured notes due 2034 in a private offering under the Securities Act exemptions.

The sale is expected to close on September 24, 2026, subject to customary conditions, and the notes will be guaranteed by subsidiaries that guarantee TTM’s senior secured credit facilities. TTM intends to use net proceeds, together with expected borrowings from a $300 million incremental term loan A and an $800 million incremental term loan B, to help fund the purchase price for its proposed acquisition of Epiq Solutions, for general corporate purposes including potential repayment of Revolving Credit Facility borrowings used to fund the proposed acquisition of Swiss Technology Group, and to pay related fees and expenses. If the Epiq acquisition is not completed by an Outside Date (with possible extension to May 15, 2027), TTM must redeem the notes at 100% of principal plus accrued interest.

Positive

• Senior notes priced: $500 million of 6.750% senior unsecured notes due 2034
• Financing package: Notes plus planned $300 million term loan A and $800 million term loan B to fund Epiq Solutions acquisition and other uses

Negative

• Interest burden: $500 million principal bearing a 6.750% coupon until 2034
• Redemption feature: If the Epiq acquisition is not completed by the Outside Date (with possible extension), TTM must redeem the notes at 100% of principal plus accrued interest

News Explained

TTM has priced $500 million of notes, but the sale is not expected to close until September 24, 2026; neither that financing nor the proposed Epiq acquisition is conditioned on the other, so either can proceed without the other.

Market Context

The Aug 17 Epiq acquisition announcement showed a 0.7% 24-hour price reaction; the current notes pri...

Analysis

The Aug 17 Epiq acquisition announcement showed a 0.7% 24-hour price reaction; the current notes pricing supplied financing terms for that same proposed transaction, linking the debt event to the previously disclosed acquisition.

Key Figures

Principal Amount: $500 million Interest Rate: 6.750% Expected Closing: September 24, 2026 +5 more

Principal Amount

$500 million

Senior notes offering

Interest Rate

6.750%

Senior notes due 2034

Expected Closing

September 24, 2026

Subject to customary closing conditions

Incremental Term Loan A

$300 million

Expected borrowings supporting transaction financing

Incremental Term Loan B

$800 million

Expected borrowings supporting transaction financing

Outside Date

November 15, 2026

Epiq acquisition closing deadline

Automatic Extension

May 15, 2027

Available in certain circumstances

Redemption Price

100% of principal amount

If the Epiq acquisition is not consummated by the outside date

Historical Context

1 past event · Latest: Aug 17

1 event

1. Aug 17

   Epiq acquisition

   24h Move

   +0.7%

   Proposed Epiq acquisition with committed financing and expected closing by end of 2026.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior unsecured obligations, incremental senior secured term loan, rule 144a, regulation s

4 terms

senior unsecured obligations financial

"The Notes will be senior unsecured obligations of TTM"

Senior unsecured obligations are loans or bonds that a company promises to pay back with its own money, but without any special guarantees or collateral. If the company runs into financial trouble, these debts are paid after other debts with priority, meaning they are less protected but still important. They matter because they show how risky it is to lend money to a company.

incremental senior secured term loan financial

"$300 million incremental senior secured term loan A"

A incremental senior secured term loan is additional borrowed money a company takes on under the same loan agreement as an existing senior secured term loan, holding the same high priority claim on the company’s assets and repaid on a set schedule. It matters to investors because it changes the company’s debt load and priority of creditors—like adding another mortgage onto a house that has the same first-lien claim—affecting leverage and claims on assets if the company faces financial trouble.

rule 144a regulatory

"in reliance on Rule 144A under the Securities Act"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"in compliance with Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

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SANTA ANA, Calif., Sept. 10, 2026 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”) announced today that it has priced $500 million in aggregate principal amount of its 6.750% senior notes due 2034 (the “Notes”) in a private offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”). The sale of the Notes is expected to close on September 24, 2026, subject to customary closing conditions.

The Notes will be senior unsecured obligations of TTM and will be guaranteed by TTM’s subsidiaries that guarantee its senior secured credit facilities, including its term loan B due 2030 and its revolving credit facility (the “Revolving Credit Facility”), subject to certain exceptions. TTM intends to use the net proceeds of the offering of the Notes, together with expected borrowings from a $300 million incremental senior secured term loan A and a $800 million incremental senior secured term loan B (collectively, the “Incremental Facilities”), to fund the purchase price for the previously announced proposed acquisition of EDS Intermediate Holding, LLC (“Epiq Solutions”), for general corporate purposes, which may include the reduction of any amounts TTM may borrow under the Revolving Credit Facility to fund the purchase price for the previously announced proposed acquisition of Swiss Technology Group AG (“STG”), and to pay related fees and expenses.

The offering of the Notes is not conditioned on the consummation of the proposed acquisition of Epiq Solutions, and the consummation of the proposed acquisition of Epiq Solutions is not conditioned upon the closing of the offering of the Notes. If the acquisition of Epiq Solutions is not consummated on or before November 15, 2026 (subject to automatic extension to May 15, 2027 in certain circumstances) (the “Outside Date”) or TTM delivers a notice in writing to the trustee stating that it has determined that the consummation of the acquisition of Epiq Solutions will not occur on or before the Outside Date, TTM will be required to redeem the Notes at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest from the issuance date of the Notes to but excluding, the redemption date.

The Notes and the related guarantees are being offered solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any Notes, nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is being issued pursuant to, and in accordance with, Rule 135c under the Securities Act.

Forward-looking Statements
This release contains forward-looking statements that relate to future events. TTM cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect TTM’s current expectations, and TTM does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other TTM statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond TTM’s control, which could cause actual results to differ materially from the forward-looking statements. Statements related to, among other things, the consummation of the offering of the Notes, the consummation of the Incremental Facilities, TTM’s ability to successfully consummate the proposed acquisition of Epiq Solutions, and potential changes in market conditions constitute forward-looking statements. For a description of additional factors that may cause TTM’s actual results, performance or expectations to differ from any forward-looking statements, please review the information set forth in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of TTM’s public reports filed with the Securities and Exchange Commission.

About TTM
TTM Technologies, Inc. is a leading global manufacturer of technology products, including mission systems, radio frequency (“RF”) components, RF microwave/microelectronic assemblies, and technologically advanced interconnect products, including printed circuit boards and substrates. TTM stands for time-to-market, representing how TTM's time-critical, one-stop design, engineering and manufacturing services enable customers to reduce the time required to develop new products and bring them to market.

Contact:
Sean K.F. Hannan,
Vice President, Investor Relations
Sean.Hannan@ttmtech.com
+1 339 466 7737

FAQ

How will TTM Technologies use the proceeds from the new senior notes?

TTM intends to use the net proceeds from the notes, together with expected borrowings under a $300 million incremental senior secured term loan A and an $800 million incremental senior secured term loan B, to fund the purchase price for the proposed acquisition of Epiq Solutions, for general corporate purposes, which may include reducing amounts borrowed under the Revolving Credit Facility to fund the proposed acquisition of Swiss Technology Group, and to pay related fees and expenses.

What happens to the notes if the Epiq Solutions acquisition does not close?

If the Epiq Solutions acquisition is not consummated on or before November 15, 2026, subject to automatic extension to May 15, 2027 in certain circumstances, or if TTM states in writing to the trustee that the acquisition will not occur by the Outside Date, TTM will be required to redeem the notes at 100% of principal, plus accrued and unpaid interest from issuance to, but excluding, the redemption date.

Who can purchase these senior notes and under what securities law exemptions?

The notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and to non-U.S. persons outside the United States in compliance with Regulation S. The notes have not been registered under the Securities Act or any other jurisdiction’s securities laws and may not be offered or sold in the United States without registration or an applicable exemption.

Are the senior notes guaranteed and by whom?

The notes will be senior unsecured obligations of TTM and will be guaranteed by TTM’s subsidiaries that guarantee its senior secured credit facilities, including its term loan B due 2030 and its revolving credit facility, subject to certain exceptions.

Is the note offering contingent on the closing of the Epiq Solutions acquisition?

The offering of the notes is not conditioned on the consummation of the proposed acquisition of Epiq Solutions, and the consummation of that acquisition is not conditioned upon the closing of the note offering.