CLEVELAND, May 8, 2018 /PRNewswire/ -- TransDigm Group
Incorporated ("TransDigm Group") (NYSE: TDG) announced today that
on May 8, 2018, its wholly-owned
subsidiary, TransDigm UK Holdings plc, has successfully completed
its previously announced private offering of $500 million aggregate principal amount of 6.875%
senior subordinated notes due 2026 (the "Notes").
TransDigm Group intends to use the net proceeds from the
offering of the Notes, together with the proceeds of $700 million in additional tranche E term loans,
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.
The Notes and related guarantees were offered only to qualified
institutional buyers in reliance on the exemption from registration
set forth in Rule 144A under the Securities Act of 1933 (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, applicable state
securities or blue sky laws and foreign securities laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor shall there be
any sales of securities mentioned in this press release in any
state or foreign jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or foreign jurisdiction.
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, 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
|
|
Investor
Relations
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216-706-2945
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ir@transdigm.com
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SOURCE TransDigm Group Incorporated