CLEVELAND, Nov. 29, 2010 /PRNewswire-FirstCall/ --
FOR FURTHER
INFORMATION:
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Jonathan D. Crandall
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Investor Relations
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(216) 706-2945
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ir@transdigm.com
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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 $780 million
aggregate principal amount of senior subordinated notes due 2018
(the "Notes") in a private offering that is exempt from the
registration requirements of the Securities Act of 1933, as amended
(the "Securities Act"). It is expected that the Notes will be
guaranteed, with certain exceptions, by TransDigm Group, and all of
the Company's existing and future domestic subsidiaries on a senior
subordinated basis.
The Company intends to use the net proceeds from the offering of
the Notes, together with borrowings under a new senior secured
credit facility, to fund the previously announced acquisition of
McKechnie Aerospace Holdings, Inc., to repay a portion of its
existing senior secured credit facility, to add excess cash to its
balance sheet and to pay related transaction expenses.
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.
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
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About TransDigm Group
TransDigm Group, through its wholly-owned subsidiaries,
including TransDigm Inc., 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, aircraft audio systems, specialized cockpit displays,
engineered latching and locking devices, specialized lavatory
components, engineered connectors and elastomers, rods and locking
devices, NiCad batteries/chargers, and lighting and control
technology. More information can be found at
www.transdigm.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of federal securities law. You should exercise
caution in interpreting and relying on forward-looking statements
because they involve known and unknown risks, uncertainties and
other factors which are, in some cases, beyond the Company's
control. Such risks and uncertainties include, but are not
limited to, the effect of general economic conditions and other
factors listed in the Company's filings with the Securities and
Exchange Commission.
SOURCE TransDigm Group Incorporated