TransDigm (TDG) Unit to Offering $500M of Senior Subordinated Notes
Get Alerts TDG Hot Sheet
Price: $1,233.80 +0.87%
Overall Analyst Rating:
BUY ( Down)
Dividend Yield: 3.7%
Revenue Growth %: +17.6%
Overall Analyst Rating:
BUY ( Down)
Dividend Yield: 3.7%
Revenue Growth %: +17.6%
Join SI Premium – FREE
TransDigm Group Incorporated (NYSE: TDG) announced today that its wholly-owned subsidiary, TransDigm Inc. (the "Company"), is planning, subject to market and other conditions, to offer $500 million aggregate principal amount of senior subordinated notes due 2020 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). TransDigm Group has received from its lenders the requisite consents to a previously announced proposed amendment to its senior secured credit facilities, which was a condition of the offering of the Notes. It is expected that the Notes will be guaranteed, with certain exceptions, by TransDigm Group, and all of the Company's existing and future domestic subsidiaries on a senior subordinated basis.
The Company intends to use all or a portion of the net proceeds from the offering of the Notes, together with the net proceeds of the borrowing of $150.0 million of additional incremental term loans and cash on hand, to fund a dividend in the range of $450 million to $850 million to the holders of the common stock of TransDigm Group, to pay related transaction expenses and for general corporate purposes.
The Company intends to use all or a portion of the net proceeds from the offering of the Notes, together with the net proceeds of the borrowing of $150.0 million of additional incremental term loans and cash on hand, to fund a dividend in the range of $450 million to $850 million to the holders of the common stock of TransDigm Group, to pay related transaction expenses and for general corporate purposes.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TransDigm (TDG) PT Raised to $1,175 at JPMorgan
- The Carlyle Group (CG) Announces COO Change
- Fisker (FSR) Announces Reduced MSRP in U.S. on Many 2023 Model Year Vehicles
Create E-mail Alert Related Categories
Corporate NewsRelated Entities
DividendSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!