TransDigm announces $250 million senior subordinated note offering

By Paul A. Harris

St. Louis, Jan. 17 - TransDigm Inc. plans to offer $250 million of senior subordinated notes via Rule 144A, the company said in a news release Wednesday.

The company also is in the leveraged markets with a $180 million tack-on to its existing $650 million senior secured term loan via Credit Suisse and Lehman Brothers.

Proceeds will be used to finance the $430 million acquisition of Aviation Technologies, Inc. in a transaction expected to close before mid-March.

In connection with these transactions TransDigm also intends to increase its existing senior secured revolving credit facility to $200 million from $150 million but does not intend to draw from the revolver in connection with the closing of the ATI transaction.

The prospective issuer is a subsidiary of TransDigm Group Inc., a Cleveland-based designer, producer and supplier of aircraft components.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.