TransDigm selling $275 million eight-year notes, could price Tuesday

By Paul Deckelman

New York, June 19 - TransDigm Inc. could price a $275 million issue of eight-year senior subordinated notes as soon as Tuesday afternoon, junk bond market syndicate sources said Monday.

They said that the quickly-shopped drive-by deal is likely to price around the end of the session, after a whirlwind one-day roadshow, including a 7:30 a.m. ET breakfast presentation in Boston, a lunchtime presentation in New York, and a 12:30 p.m. ET investor call.

The deal is being marketed by joint book-running managers Banc of America Securities and Credit Suisse, along with co-managers UBS Investment Bank and Barclays Capital.

The bonds are being sold under Rule 144A with registration rights. They will be non-callable for the three years.

The offering is expected to be assigned ratings of B3 by Moody's Investors Service, and B- by Standard & Poor's.

TransDigm, a wholly owned subsidiary of TransDigm Group Inc. - a Cleveland-based designer, producer and supplier of precision components widely used in military and civilian aircraft - plans to use the deal proceeds, along with those from a new $800 million credit facility, to fund the refinancing of its debt, including a tender offer for its $400 million of existing 8 3/8% senior subordinated notes due 2011.

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