TransDigm Group completes Notes offering and additional term loan for $1.9 billion
Client(s) TransDigm Group Incorporated
Jones Day represented TransDigm Group Incorporated, a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., a wholly-owned subsidiary of TransDigm Group, of 6.375% Senior Subordinated Notes due 2026 in an aggregate principal amount of $950 million, the funding of an additional term loan of $500 million, receiving commitments for a delayed draw term loan of $450 million, and amending 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.
The proceeds from these transactions will be used to fund a portion of the purchase price for the acquisition of the stock of ILC Holdings, Inc., the parent company of Data Device Corporation and supplier of databus and power supply products to the global military and commercial aerospace markets, and for general corporate purposes, including potential future acquisitions or dividends.
