TransDigm Group said it priced the September 5, 2024 offering of $1.5 billion Senior Secured Notes due 2033 by its wholly owned subsidiary, TransDigm Inc. The 6.00% notes will be issued at 100.00% of principal amount.

1. 01

   TransDigm Group said it priced the September 5, 2024 offering of $1.5 billion Senior Secured Notes due 2033 by its wholly owned subsidiary, TransDigm Inc. The 6.00% notes will be issued at 100.00% of principal amount.

2. 02

   The company said the offering is expected to close on September 19, 2024, subject to customary closing conditions. TransDigm Group and certain of the issuer's direct and indirect subsidiaries will guarantee the notes.

3. 03

   TransDigm Group said it plans to use the net proceeds of the notes, together with net proceeds of new tranche L term loans and cash on hand, to fund a special cash dividend to common stockholders in the range of $3.5 billion to $4.5 billion. It also plans to use the proceeds to make cash dividend equivalent payments on eligible vested options and to pay related transaction fees and expenses.

4. 04

   The company said it expects to incur new tranche L term loans under Amendment No. 17 and Incremental Term Loan Assumption Agreement concurrently with the notes offering. The notes are offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and are not registered under the Securities Act.

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