CLEVELAND, April 12, 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 $750 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 2025, the
aggregate principal amount of which is also $750 million, and to pay related premiums, fees
and expenses.
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 persons reasonably believed to be 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
and the redemption of the outstanding 6.500% senior subordinated
notes due 2025; 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; 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.