TTM Technologies raises $500M in debt to fund two acquisitions
What's the deal? TTM TechnologiesDealroom has a profile for this one. Try Dealroom → has completed a $500 million private offering of 6.750% senior notes due 2034, the company said on September 24, 2026. The notes priced at par and are guaranteed on a senior unsecured basis by subsidiaries that back TTM's existing credit facilities.
What's the money for? TTM plans to combine the net proceeds with $1.1 billion in incremental senior secured term loans to fund its proposed acquisition of EDS Intermediate HoldingDealroom has a profile for this one. Try Dealroom → and the previously announced purchase of Swiss Technology GroupDealroom has a profile for this one. Try Dealroom →, along with general corporate purposes.
What TTM does: The US-based company manufactures advanced electronic components, best known for printed circuit boards and interconnect solutions for the communications, industrial, aerospace, and defence markets. It operates with a debt-heavy capital structure, using secured and unsecured facilities to fund growth and acquisitions.
The fine print: The notes carry semi-annual interest payments starting April 1, 2027, and rank equally with other senior unsecured debt — but sit behind TTM's secured facilities. They include a special mandatory redemption tied to closing the EDS deal by an outside date, plus change-of-control and asset-sale provisions.
Why it matters: The raise ranks in roughly the 29th percentile by amount among comparable deals, a mid-sized offering that gives TTM the firepower to close two acquisitions at once. Covenants limiting additional debt and restricted payments can be suspended if the company reaches investment-grade ratings.
The signal: With a market cap of $13.43 billion, TTM is leaning on capital markets rather than equity to expand its technology portfolio and global footprint. The bond-plus-term-loan structure is a familiar playbook for acquisitive manufacturers financing growth against a heavy debt base.
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