TransDigm to get new credit facility with bond tender offer

By Sara Rosenberg

New York, May 26 - TransDigm Inc. is planning on coming to market with a new senior secured credit facility in connection with its bond tender offer, according to a market source.

Credit Suisse and Bank of America are joint lead arrangers on the deal, with Credit Suisse the left lead.

Details on timing and structure of the new credit facility are not available as of yet, the source added.

Proceeds from the credit facility, a new issuance of senior subordinated notes and cash on hand will be used to fund the bond tender, to refinance all outstanding bank debt and to pay related fees and expenses.

The company is tendering for all of its $400 million 8 3/8% senior subordinated notes due 2011. The offer expires on June 22.

TransDigm is a Cleveland-based designer, producer and supplier of highly engineered aircraft components for commercial and military aircraft.

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