CLEVELAND, Jan. 14, 2021 /PRNewswire/ -- TransDigm
Group Incorporated ("TransDigm Group") (NYSE: TDG) announced today
that its wholly-owned subsidiary, TransDigm Inc., is planning,
subject to market and other conditions, to offer $1,200 million aggregate principal amount of
senior subordinated notes (the "Notes") in a private offering that
will be exempt from the registration requirements of the Securities
Act of 1933 (the "Securities Act"). It is expected that the Notes
will be guaranteed, with certain exceptions, by TransDigm Group,
TransDigm UK Holdings plc and all of TransDigm Inc.'s existing and
future U.S. subsidiaries on a senior subordinated basis.
TransDigm Group intends to use the net proceeds from the
offering of the Notes, plus cash on hand, to redeem all of its
outstanding 6.500% senior subordinated notes due 2024.
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, 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, batteries and chargers, engineered latching
and locking devices, engineered rods, engineered connectors and
elastomer sealing solutions, databus and power controls, cockpit
security components and systems, specialized and advanced cockpit
displays, aircraft audio systems, specialized lavatory components,
seat belts and safety restraints, engineered and customized
interior surfaces and related components, advanced sensor products,
switches and relay panels, thermal protection and insulation,
lighting and control technology, 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 ability to successfully complete the offering of the Notes;
the impact that the COVID-19 pandemic has on TransDigm Group's
business, results of operations, financial condition and liquidity;
the sensitivity of TransDigm Group's business to the number of
flight hours that TransDigm Group's customers' planes spend aloft
and its customers' profitability, both of which are affected by
general economic conditions; future geopolitical or other worldwide
events; cyber-security threats and natural disasters; TransDigm
Group's reliance on certain customers; the U.S. defense budget and
risks associated with being a government supplier including
government audits and investigations; failure to maintain
government or industry approvals; failure to complete or
successfully integrate acquisitions, including TransDigm Group's
acquisitions of Esterline Technologies Corporation and Cobham Aero
Connectivity; TransDigm Group's indebtedness; potential
environmental liabilities; liabilities arising in connection with
litigation; increases in raw material costs, taxes and labor costs
that cannot be recovered in product pricing; risks and costs
associated with TransDigm Group's 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 for the fiscal year ended September 30, 2020 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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Investor
Relations
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216-706-2945
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ir@transdigm.com
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SOURCE TransDigm Group Inc.