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TransDigm Group Inc Announces Completion of Incremental Term Loan, Notes Offering; Special Cash Dividend of $22 Per Share

Wednesday, 3 Jul 2013 01:05pm EDT 

TransDigm Group Inc announced that its wholly-owned subsidiary, TransDigm Inc (the Company), received the funding of an additional incremental term loan of $900 million at a current interest rate of approximately 3.8% and that it has completed its previously announced offering of $500 million aggregate principal amount of 7.5% senior subordinated notes due 2021 (the Notes).These transactions yield an approximate weighted average current interest rate of 5% on the new debt, modestly lower than our existing debt. TransDigm Group also announced that its board of directors has authorized and declared a special cash dividend of $22.00 on each outstanding share of common stock and cash dividend equivalent payments under certain of its stock option plans. The record date for the special dividend is July 15, 2013, and the payment date for the dividend is July 25, 2013. 

Company Quote

2.1 +0.93%
27 May 2015