TransDigm completes $500 million Senior Secured Notes offering, $2 billion Senior Subordinated Notes offering, and incurs $2.5 billion of new term loans under its term credit facility
Client(s) TransDigm Group Incorporated
Jones Day represented TransDigm Group Incorporated (“TransDigm Group”), a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with Rule 144A and Regulation S offerings by its wholly-owned subsidiary TransDigm Inc. (“TransDigm”) of $500 million aggregate principal amount of 6.250% Senior Secured Notes due 2034 (the “Secured Notes”) and $2 billion aggregate principal amount of 6.750% Senior Subordinated Notes due 2034 (the “Subordinated Notes”). The Secured Notes and the Subordinated Notes are guaranteed, on a senior secured basis and a subordinated basis, respectively, by TransDigm Group and each of TransDigm’s direct and indirect restricted subsidiaries that is a borrower or guarantor under TransDigm’s senior secured credit facilities or that issues or guarantees any capital markets indebtedness of TransDigm or any of the guarantors in an aggregate principal amount of at least $200 million.
Concurrently with the offerings of the Secured Notes and the Subordinated Notes, TransDigm amended its Credit Agreement by entering into Amendment No. 18 and Incremental Term Loan Assumption Agreement, pursuant to which, among other things, TransDigm incurred $2.5 billion of new term loans maturing 2032 with an interest rate of Term SOFR plus 2.50%.
