CLEVELAND, Feb. 24, 2017 /PRNewswire/ -- TransDigm
Group Incorporated ("TransDigm Group") (NYSE: TDG) announced today
that its wholly-owned subsidiary, TransDigm Inc. (the "Company"),
is planning, subject to market and other conditions, to offer an
additional $300 million aggregate
principal amount of 6.500% Senior Subordinated Notes due 2025 (the
"Notes") in a private offering that is exempt from the registration
requirements of the Securities Act of 1933 (the "Securities Act").
The Notes will be an additional issuance of the Company's existing
6.500% Senior Subordinated Notes due 2025. The Notes will be
guaranteed, with certain exceptions, by TransDigm Group and certain
of the Company's existing and future domestic subsidiaries on a
senior subordinated basis.
TransDigm Inc. intends to use the net proceeds from the offering
of the Notes for general corporate purposes, which may include
potential future acquisitions, dividends and purchases under its
stock repurchase program, as well as to replenish approximately
$90 million of cash on its balance
sheet used to fund the acquisition of SCHROTH Safety Products GmbH
and certain aviation and defense assets and liabilities from
subsidiaries of Takata Corporation on February 22, 2017.
This is not an offer to sell or the solicitation of an offer to
buy any securities. The Notes and related guarantees are being
offered only to qualified institutional buyers in reliance on the
exemption from registration set forth in Rule 144A under 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 and applicable state
securities or blue sky laws and foreign securities laws.
About TransDigm Group
TransDigm Group, 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, databus and power controls, 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 which could affect TransDigm Group's actual results
and could cause its actual results to differ materially from those
expressed or implied in any forward-looking statements made by, or
on behalf of, TransDigm Group. 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 geopolitical or worldwide
events; cyber-security threats 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 raw material costs, taxes and labor costs
that cannot be recovered in product pricing; risks and costs
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 TransDigm Group's Annual Report on Form
10-K and other reports that TransDigm Group or its subsidiaries
have filed with the Securities and Exchange Commission. Except as
required by law, TransDigm Group undertakes no obligation to revise
or update the forward-looking statements contained in this press
release.
Contact:
Liza Sabol
Investor Relations
216-706-2945
ir@transdigm.com
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SOURCE TransDigm Group Incorporated