TransDigm seeks USD650m increase in term loan

TransDigm Group Incorporated (NYSE: TDG) has begun seeking a USD650 million increase in its existing term loan facility in connection with consideration of a special dividend payment, the company said.

The company said it is considering paying a cash dividend in the range of USD1.1 billion to USD1.5 billion with the proceeds of the proposed new term loan and cash on hand.

In connection with the proposed additional term loan and related discussions with lenders, the company is providing an update on its preliminary expectations for certain fiscal 2016 results relative to the guidance provided on August 9, 2016 in its third quarter earnings release.

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