TransDigm seeks credit facility amendment

13 May 2014

TransDigm Group Inc. (NYSE: TDG) said that it has requested amendments to its senior secured credit facilities in connection with considering whether to pay a special dividend.

TransDigm has requested that its senior lenders consent to amendments to its senior secured credit facilities to permit, among other things, a special dividend, to increase its existing senior secured term facility by USD625m, to change certain ratios in its existing senior secured credit facility and increase availability under its revolving credit facility to USD400m. In addition to the USD625m of new term loans, TransDigm Inc. may also seek to raise USD2.35bn of new subordinated debt. TransDigm Inc. may also utilize approximately USD200m of its trade receivables securitization facility.

The company said it intends to use a portion of the proceeds to finance its offer to purchase any and all of its outstanding USD1.6bn aggregate principal amount of 7.75 percent senior subordinated notes due 2018.

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. Its website is at www.transdigm.com.

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