TTM Technologies prices $500 million of 6.750% senior notes due 2034

TTM Technologies priced $500 million of 6.750% senior notes due 2034 on September 10, adding a planned financing source for its proposed acquisition of Epiq Solutions. The sale is expected to close on September 24, 2026, subject to customary closing conditions (Form 8-K AccNo 0001193125-26-388039).

Senior unsecured debt, with closing still ahead

The notes will be senior unsecured obligations of TTM. Subject to certain exceptions, guarantees will come from the subsidiaries that guarantee its senior secured credit facilities, including its term loan B due 2030 and revolving credit facility. The subsidiary guarantees do not change the notes’ senior unsecured status.

TTM announced the proposed private offering and its pricing in separate September 10 releases furnished with its Form 8-K, accession number 0001193125-26-388039. The pricing release establishes the principal amount, coupon and maturity; the expected September 24 sale remains subject to customary closing conditions.

Acquisition financing and the revolver connection

TTM intends to combine the notes’ net proceeds with expected borrowings under two incremental senior secured facilities: a $300 million term loan A and an $800 million term loan B. Those facilities remain expected borrowings, rather than completed or drawn financing.

The intended uses include funding the purchase price for the previously announced proposed acquisition of EDS Intermediate Holding, LLC, known as Epiq Solutions, general corporate purposes, and related fees and expenses. General corporate purposes may include reducing amounts TTM may borrow under its revolving credit facility to fund its separately proposed acquisition of Swiss Technology Group AG, or STG.

That distinction matters: the STG reference concerns a possible reduction of acquisition-related revolver borrowings. The release does not establish that those borrowings have occurred or that either acquisition has closed. It also does not specify final net proceeds from the notes.

Epiq deadline carries a redemption requirement

The notes offering is not conditioned on completion of the Epiq acquisition, and completion of that acquisition is not conditioned on the notes offering closing. A special mandatory redemption provision nevertheless connects the debt to the proposed transaction.

If the Epiq acquisition is not consummated on or before November 15, 2026, subject to an automatic extension to May 15, 2027 in certain circumstances, TTM must redeem the notes. The requirement also applies if TTM gives the trustee written notice that it has determined the acquisition will not occur on or before that outside date.

The redemption price would be 100% of principal plus accrued and unpaid interest from issuance to, but excluding, the redemption date.