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TransDigm Group Inc's subsidiary prices offering of $2.350 bln Senior Subordinated Notes


Wednesday, 21 May 2014 08:00am EDT 

TransDigm Group Inc:TransDigm Inc, subsidiary priced its private offering of $2.350 bln aggregate principal amount of senior subordinated notes, consisting of $1.150 billion aggregate principal amount of 6 pct Senior Subordinated Notes due 2022.And $1.200 bln aggregate principal amount of 6.5 pct Senior Subordinated Notes due 2024.Offering is expected to close on June 4.Offering of notes is conditioned on company completing its previously announced tender offer or delivery of an irrevocable notice of redemption with respect to all of its outstanding 7.75 pct senior subordinated notes due 2018.Net proceeds, after initial purchasers' discounts and the payment of fees and expenses, of about $2.325 bln.Use portion of net proceeds together with proceeds of an additional tranche of term loans of $825 mln under its senior secured credit facilities and proceeds of borrowing under its trade receivables securitization facility to fund dividend.To make cash dividend equivalent payments under 2006 Stock Incentive Plan Dividend Equivalent Plan, as amended, and 2003 Stock Option Plan Dividend Equivalent Plan, as amended.To repurchase any and all of outstanding 2018 Notes pursuant to tender offer and notice of redemption described above.For related transaction fees and expenses and general corporate purposes. 

Company Quote

177.23
-1.23 -0.69%
22 Oct 2014