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TransDigm (TDG) Unit to Offering $500M of Senior Subordinated Notes

October 10, 2012 8:11 AM EDT
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.


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