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TransDigm Group Inc announces request to amend credit facility, possible financing transactions and considers paying special dividend

Monday, 12 May 2014 06:52pm EDT 

TransDigm Group Inc:Says that it has requested amendments to its senior secured credit facilities in connection with considering whether to pay a special dividend.TransDigm Inc. 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 $625 million.In addition to the $625 million of new term loans, TransDigm Inc. may also seek to raise $2.35 billion of new subordinated debt. TransDigm Inc. may also utilize about $200 million of its trade receivables securitization facility.TransDigm intends to use a portion of the proceeds to finance previously announced offer to purchase any and all of its outstanding $1.6 billion aggregate principal amount of 7.75 pct. Senior Subordinated Notes due 2018.In addition, TransDigm is considering paying a cash dividend in the range of $900 million to $1.5 billion with a portion of the proceeds of the aforementioned financings and cash on hand. 

Company Quote

-1.14 -0.61%
22 Sep 2014