TransDigm plans to retire 7½% senior subordinated notes due 2021

By Marisa Wong

Morgantown, W.Va., Oct. 12 – TransDigm Group Inc. intends to retire its outstanding 7½% senior subordinated notes due 2021 through a tender offer or by redemption, according to an 8-K filing with the Securities and Exchange Commission.

The company will use proceeds from a $500 million incremental loan to retire the 7½% notes. On Wednesday, the company said it is seeking to upsize its previously announced $650 million term loan to $1.15 billion due to oversubscription.

The company expects to amend its credit agreement to permit repayment of its 7½% notes, according to the filing.

TransDigm is a Cleveland-based designer, producer and supplier of highly engineered aircraft components for use on commercial and military aircraft.

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