TransDigm to issue $500 million of notes to fund a special dividend

By Paul A. Harris

Portland, Ore., Oct. 9 - TransDigm Group Inc. announced in a Tuesday press release that it intends to make an offering of $500 million senior subordinated notes, pending market conditions.

The company solicited consents from its lenders to go ahead with the deal.

The consent deadline was 5 p.m. ET on Tuesday.

Should it receive the consents, TransDigm would expect to use all or a portion of the proceeds of any such offering to pay a special dividend, the company stated.

TransDigm is a Cleveland-based maker of aircraft components.

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