TransDigm guides $950 million 10-year notes in 6½%-6¾% context; pricing Wednesday

By Paul A. Harris

Portland, Ore., May 25 – TransDigm Inc. is guiding a $950 million offering of 10-year senior subordinated notes (existing ratings B3/CCC+) in a yield context of 6½% to 6¾%, according to an investor.

The deal is set to price Wednesday trailing a mid-morning conference call with investors.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., UBS Investment Bank, Barclays, Credit Agricole CIB, Goldman Sachs & Co., HSBC and RBC Capital Markets are the joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

The notes come with five years of call protection.

Cleveland-based designer, producer and supplier of highly engineered aircraft components plans to use the proceeds to fund the acquisition of Data Device Corp. and for general corporate purposes, including potential acquisitions and/or dividends.

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