CLEVELAND, June 9, 2016 /PRNewswire/ -- TransDigm Group
Incorporated (the "Company") (NYSE: TDG) announced today that its
wholly-owned subsidiary, TransDigm Inc., received the funding of an
additional term loan of $500 million
maturing in 2023 at a current rate of 3.75% (the "Tranche F Term
Loan"), received the commitments of a delayed draw term loan of
$450 million, converted $790 million of existing tranche C term loans
into Tranche F Term Loans, amended its existing credit agreement
to, among other things, permit additional restricted payments
(including dividends and share repurchases) in an aggregate amount
not to exceed $1,500 million, subject
to the satisfaction of certain conditions, and that it has
successfully completed the previously announced private offering of
$950 million aggregate principal
amount of 6.375% senior subordinated notes due 2026 (the "Notes").
A portion of the proceeds will be used to fund the purchase price
of the acquisition of ILC Holdings, Inc., the parent company of
Data Device Corporation, and for general corporate purposes,
including potential future acquisitions and dividends.
The Notes and related guarantees were offered only to qualified
institutional buyers in reliance on the exemption from registration
set forth in Rule 144A under the Securities Act of 1933 (the
"Securities Act"), and outside the United
States to non-U.S. persons in reliance on the exemption from
registration set forth in Regulation S under the Securities Act.
The Notes and the related guarantees have not been registered under
the Securities Act, or the securities laws of any state or other
jurisdiction, and may not be offered or sold in the United States without registration or an
applicable exemption from the Securities Act, applicable state
securities or blue sky laws and foreign securities laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be
any sales of securities mentioned in this press release in any
state or foreign jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or foreign jurisdiction.
About TransDigm Group
The Company, through its wholly-owned subsidiaries, is a leading
global designer, producer and supplier of highly engineered
aircraft components for use on nearly all commercial and military
aircraft in service today. Major product offerings, substantially
all of which are ultimately provided to end-users in the
aerospace industry, include mechanical/electro-mechanical actuators
and controls, ignition systems and engine technology, specialized
pumps and valves, power conditioning devices, specialized AC/DC
electric motors and generators, NiCad batteries and chargers,
engineered latching and locking devices, rods and locking devices,
engineered connectors and elastomers, cockpit security components
and systems, specialized cockpit displays, aircraft audio systems,
specialized lavatory components, seatbelts and safety restraints,
engineered interior surfaces and related components, lighting and
control technology, military personnel parachutes, high performance
hoists, winches and lifting devices, and cargo loading, handling
and delivery systems.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All forward-looking statements involve risks and
uncertainties that could cause the Company's actual results to
differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company.
These risks and uncertainties include but are not limited to: the
sensitivity of our business to the number of flight hours that our
customers' planes spend aloft and our customers' profitability,
both of which are affected by general economic conditions; future
terrorist attacks; cyber-security risks and natural disasters; our
reliance on certain customers; the U.S. defense budget and risks
associated with being a government supplier; failure to maintain
government or industry approvals; failure to complete or
successfully integrate acquisitions; our substantial indebtedness;
potential environmental liabilities; increases in costs that cannot
be recovered in product pricing; risks associated with our
international sales and operations; and other risk factors. Further
information regarding the important factors that could cause actual
results to differ materially from projected results can be found in
the Company's Annual Report on Form 10-K and other reports that the
Company or its subsidiaries have filed with the Securities and
Exchange Commission. Except as required by law, the Company
undertakes no obligation to revise or update any forward-looking
statements contained in this press release.
Contact:
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Liza Sabol
|
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Investor
Relations
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216-706-2945
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ir@transdigm.com
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SOURCE TransDigm Group Incorporated