TransDigm Group closes $2.35 billion Notes and $825 million term loan and amends credit facilities in refinancing transaction

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 $1.150 billion aggregate principal amount of 6.000% Senior Subordinated Notes due 2022 and $1.200 billion aggregate principal amount of 6.500% Senior Subordinated Notes due 2024. The proceeds from the offering, together with proceeds from borrowings under a new term loan and proceeds from borrowing under a trade receivables securitization facility, will be used to fund a dividend to its shareholders and to repurchase $1.6 billion of its outstanding 7.75% Senior Subordinated Notes due 2018 in a concurrent tender offer. The $1.245 billion second amended and restated senior secured credit facilities consisted of a new tranche of term loans in an aggregate principal amount of $825 million and an increased total revolving commitment to $420 million, which includes a new sublimit of up to $100 million of multicurrency revolving loans.