Business Context and Reporting Period
Company: TTM Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 8, 2017
Event: Entry into a Material Definitive Agreement regarding an amendment to the Company's credit facility.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, or liquidity metrics. The document focuses exclusively on the amendment of a debt agreement.
Material Changes
The Company entered into a Third Amendment to its Term Loan Credit Agreement (TLB Agreement) dated May 31, 2015. The material changes include:
- Authorization to incur an incremental senior secured term loan facility.
- The new facility may be incurred concurrent with or prior to the consummation of the acquisition of Anaren Holding Corp.
- Certain other unspecified changes to the TLB Agreement.
Guidance, Outlook, and Risks
Management Commentary: The amendment was executed in connection with the previously announced acquisition of Anaren Holding Corp.
Risks and Contingencies: The filing notes that the description of the amendments is not complete and is subject to the full text of the amended TLB Agreement. No specific financial risks or contingencies regarding the acquisition were detailed in this text.
Investor Verification Checklist
- Verify the specific terms and interest rates of the incremental senior secured term loan facility in the full text of the Third Amendment (Exhibit 10.1).
- Confirm the status and expected closing date of the Anaren Holding Corp. acquisition.
- Review the impact of the new debt on the Company's leverage ratios and debt covenants.