TransDigm Group completes additional term loan, notes offering

TransDigm Group Incorporated (NYSE: TDG) wholly owned subsidiary TransDigm Inc. has received the funding of an additional term loan of USD500 million, maturing in 2023 at a current rate of 3.75 percent, the company said.

The company also received the commitments of a delayed draw term loan of USD450 million, converted USD790 million of existing tranche C term loans into tranche F term loans, amended its existing credit agreement to permit additional restricted payments in an aggregate amount not to exceed USD1,500 million and that it has completed the previously announced private offering of USD950 million aggregate principal amount of 6.375 percent senior subordinated notes due 2026.
The company said a portion of the proceeds will be used to fund the purchase price of the acquisition of ILC Holdings, Inc., the parent company of Data Device Corporation, and for general corporate purposes, including potential future acquisitions and dividends.

TransDigm Group, through its wholly-owned subsidiaries, is a global designer, producer and supplier of engineered aircraft components for use on nearly all commercial and military aircraft in service.