TransDigm Group Announces Pricing of $425 Million of 7-3/4% Senior Subordinated Notes Due 2014
01 Octobre 2009 - 12:03AM
PR Newswire (US)
CLEVELAND, Sept. 30 /PRNewswire-FirstCall/ -- TransDigm Group
Incorporated ("TransDigm Group") (NYSE:TDG); announced today that
its wholly-owned subsidiary, TransDigm Inc. ("TransDigm), has
priced a private offering of $425 million of 7-3/4% Senior
Subordinated Notes due 2014 (the "Notes"). The Notes were priced at
97.125% of the principal amount plus accrued interest from October
6, 2009, representing an effective yield to maturity of 8.5% to the
purchasers of the Notes. The sale of the Notes is expected to close
on October 6, 2009. TransDigm intends to use the net proceeds from
the offering of the Notes to make a cash distribution to TransDigm
Group and TransDigm Group intends to use such cash distribution to
pay, in turn, a special cash dividend to its stockholders in the
approximate range of $7.50 to $7.70 per share, to make cash
dividend equivalent payments to certain holders of options to
purchase its common stock under its 2006 Stock Incentive Plan
Dividend Equivalent Plan and its 2003 Stock Option Dividend
Equivalent Plan, and for general corporate purposes. The Notes will
not be registered under the Securities Act of 1933 or any state
securities laws and may not be offered or sold in the United States
without registration or an applicable exemption from the
registration requirements of the Securities Act and applicable
state securities laws. The Notes will be offered to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
and to non-U.S. persons pursuant to Regulation S under the
Securities Act. This press release is neither an offer to sell nor
the solicitation of an offer to buy the senior notes or any other
securities and shall not constitute an offer, solicitation or sale
in any jurisdiction in which, or to any persons to whom, such an
offer, solicitation or sale is 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, 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/electromechanical actuators and controls, ignition
systems and components, gear pumps, specialized valves, engineered
connectors, power conditioning devices, specialized fluorescent
lighting and AC/DC electric motors, aircraft audio systems,
engineered latches and cockpit security devices, lavatory hardware
and components, hold open rods and locking devices, specialized
cockpit displays, elastomers, NiCad batteries/chargers and started
generators and related components. DATASOURCE: TransDigm Inc.
CONTACT: Sean Maroney, Investor Relations of TransDigm Inc.,
+1-216-706-2945 Web Site: http://www.transdigm.com/
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