TransDigm launches $798 million incremental term loan F, repricings

By Sara Rosenberg

New York, Nov. 9 – TransDigm Inc. was scheduled to hold a lender call at 3 p.m. ET on Thursday to launch a fungible $798 million incremental term loan F due June 2023, a repricing of its existing $2,857,000,000 term loan F due June 2023 and a repricing of its existing $1,503,000,000 term loan E due May 2022, according to a market source.

Price talk on all of the term loan debt is Libor plus 275 basis points with a 0% Libor floor, the source said.

The incremental loan is talked with an original issue discount of 99.875, and the repricings are offered at par.

All of the term debt is getting 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC is the lead on the deal (Ba2/B+).

Commitments are due at 5 p.m. ET on Nov. 16, the source added.

Proceeds from the incremental loan will be used to refinance a term loan D, and the term loan F and term loan E repricings will take the existing loans down from Libor plus 300 bps with a 0.75% Libor floor.

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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