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TTM Knocks Off 8% of Viasystems Loan Debt

Published: 07 March 2016
 by Mike Buetow

COSTA MESA, CA -- TTM Technologies today announced a principal payment of $74.1 million toward a nearly $1 billion loan taken to finance last year's acquisition of Viasystems.

The PCB fabricator used free cash generated in the last quarter to start paying down the $950 million senior secured term loan it was granted on May 31, 2015.

“As planned, we were pleased to utilize a portion of the $118 million in free cash flow that TTM generated in the fourth quarter of 2015 toward our goal of debt reduction as we continue to focus on deleveraging the balance sheet,” said Todd Schull CFO of TTM.

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