TransDigm Inc., a wholly owned subsidiary of TransDigm Group Incorporated (NYSE: TDG) has announced it has priced its private offering of USD 2,650 million aggregate principal amount of 5.500% Senior Subordinated Notes due 2027, the company said.
The Notes will be issued at a price of 100% of their principal amount. The Notes will be guaranteed, with certain exceptions, by TransDigm Group, TransDigm UK Holdings plc and all of TransDigm Inc.´s existing and future US subsidiaries on a senior subordinated basis. The offering is expected to close on November 13, 2019, subject to customary closing conditions.
TransDigm Group intends to use a portion of the net proceeds from the offering of the Notes to redeem all of its outstanding 6.000% senior subordinated notes due 2022. The remaining net proceeds will be used for general corporate purposes, which may include potential future acquisitions, dividends or repurchases under its stock repurchase program.
TransDigm Group, through its wholly-owned subsidiaries, is a leading global designer, producer and supplier of highly engineered aircraft components for use on nearly all commercial and military aircraft in service today.