TransDigm Group's wholly-owned subsidiary, TransDigm Inc., completed a private offering of $3.0 billion in new senior secured notes. The company plans to use the proceeds primarily to refinance existing debt, extending its maturity profile.
Key Details
- New Offering: The company issued $3.0 billion of 6.75% Senior Secured Notes, which will mature in January 2035.
- Use of Proceeds: Net proceeds will be used to repurchase its outstanding $2.1 billion 6.75% Senior Secured Notes due 2028. The remaining funds are allocated for general corporate purposes.
- Terms: The new notes were issued at 100% of their principal amount and will bear interest at a rate of 6.75% per year, payable semi-annually beginning January 31, 2027.