TransDigm readies launch of $2.51 billion credit facility for Friday

By Sara Rosenberg

New York, Feb. 7 - TransDigm Inc. will hold a conference call at 10 a.m. ET on Friday to launch a $2.51 billion credit facility, according to a market source.

Credit Suisse Securities (USA) LLC and UBS Securities LLC are the lead banks on the deal.

The facility consists of a $310 million five-year revolver and a $2.2 billion seven-year first-lien covenant-light term loan, the source said.

Price talk on the term loan is Libor plus 275 basis points with a 0.75% Libor floor and a par offer price.

In addition, the term loan has 101 repricing protection for one year, the source continued.

Proceeds will be used to refinance an existing credit facility, including a $2.2 billion term loan that is priced at Libor plus 300 bps with a 1% Libor floor.

Commitments are due on Wednesday, the source added.

TransDigm is a Cleveland-based maker of aircraft components.

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