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TransDigm mulls $700 million of subordinated debt for dividend
By Paul A. Harris and Sara Rosenberg
Portland, Ore., June 18 - TransDigm Inc. is contemplating issuing $700 million of subordinated debt that would help it fund a special dividend, according to a news release that the company issued on Tuesday.
The amount of the dividend being considered is in the range of $1 billion to $1.8 billion.
Debt financing for the dividend also includes a bank loan.
The Cleveland-based designer, producer and supplier of aircraft components was set to launch a $700 million first-lien covenant-light tack-on term loan C due February 2020 on Tuesday, according to a market source.
Credit Suisse Securities (USA) LLC, UBS Securities LLC, Morgan Stanley Senior Funding Inc. are leading the bank deal.
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