Daily News: February 22, 2018

JPMorgan Chase Agents $600MM Term Loan for TTM

TTM Technologieds, a printed circuit board manufacturer, completed the allocation of $600 million of commitments from lenders in the syndication for incremental term loans under its existing term loan credit agreement. The new funding will support the company’s acquisition of Anaren.

According to a related 8-K filing, the lenders on the term loan agreement included JPMorgan Chase Bank as administrative agent, Barclays as syndication agent, and RBS and HCBS Securities as documentation agents.

The incremental term loans are expected to be issued with 0.25% of original issue discount, have an interest rate of LIBOR + 2.50% and have terms otherwise identical to the terms of the existing term loans under the current agreement.