CLEVELAND, Jan. 14, 2021 /PRNewswire/ -- TransDigm
Group Incorporated ("TransDigm Group") (NYSE: TDG) announced
today that its wholly-owned subsidiary, TransDigm Inc., priced its
private offering of $1,200 million
aggregate principal amount of 4.625% Senior Subordinated Notes due
2029 (the "Notes"). The Notes will be issued at a price of 100.000%
of their principal amount. 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. The offering is expected to close
on January 20, 2021, subject to
customary closing conditions.
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.
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, 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:
|
Investor
Relations
|
|
216-706-2945
|
|
ir@transdigm.com
|
Logo -
https://mma.prnewswire.com/media/835315/TransDigm_Logo.jpg