CLEVELAND, May 1, 2018 /PRNewswire/ -- TransDigm Group
Incorporated ("TransDigm Group") (NYSE: TDG) announced today that
its wholly-owned subsidiary, TransDigm UK Holdings plc (the
"Company"), is planning, subject to market and other conditions, to
offer $500 million aggregate
principal amount of senior subordinated notes due 2026 (the
"Notes") in a private offering that is exempt from the registration
requirements of the Securities Act of 1933 (the "Securities Act").
It is expected that the Notes will be guaranteed by TransDigm
Group, its wholly-owned subsidiary, TransDigm Inc., and certain of
TransDigm Inc.'s existing and future domestic subsidiaries on a
senior subordinated basis.
TransDigm Group intends to use the net proceeds from the
offering of the Notes and the incremental term loan to replenish
the cash used to fund the purchase price for its acquisitions of
the Kirkhill elastomers business and Extant Components Group
Holding, Inc. This cash and the remainder of the net proceeds will
be used for general corporate purposes, including potential future
acquisitions, dividends or repurchases under its stock repurchase
program.
This press release shall not constitute 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 Incorporated, 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, 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 that could cause TransDigm Group's 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 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
any forward-looking statements contained in this press release.
Contact:
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Liza Sabol
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Investor
Relations
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216-706-2945
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ir@transdigm.com
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