TransDigm begins tendering for 7½% senior subordinated notes due 2021

By Susanna Moon

Chicago, Oct. 13 – TransDigm Group Inc. said its wholly owned subsidiary TransDigm Inc. began tendering for its 7½% senior subordinated notes due 2021.

The total purchase price will be $1,060.50 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Oct. 26, the early tender date.

The total payment includes an early tender premium of $30.00 per $1,000 principal amount.

Holders who tender after the early deadline will receive $1030.50 per $1,000 of notes.

The tender offer will remain open until 9 a.m. ET on Nov. 10.

The company also will pay accrued interest to but excluding the payment date.

Tendered notes may be withdrawn before the early deadline.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476) is the dealer manager. Global Bondholder Services Corp. (212 430-3774 or 866 807-2200) is the information agent and depositary.

As announced Oct. 12, the company plans to retire the 7½% notes using proceeds of a $500 million incremental loan. 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 previously said it expects to amend its credit agreement to permit repayment of its 7½% notes.

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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