TransDigm completes additional $550 million Senior Secured Notes offering and reprices $6.2 billion of existing tranche H and I term loans
Client(s) TransDigm Group Incorporated
Jones Day represented TransDigm Group Incorporated (“TransDigm Group”), a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of an additional $550 million aggregate principal amount of 6.375% Senior Secured Notes due 2029 (the “Notes”). The Notes are guaranteed, on a senior secured basis, by TransDigm Group and each of TransDigm Inc.'s direct and indirect restricted subsidiaries that is a borrower or guarantor under TransDigm Inc.'s senior secured credit facilities or that issues or guarantees any capital markets indebtedness of TransDigm Inc. or any of the guarantors in an aggregate principal amount of at least $200 million.
Concurrently with the offering of the Notes, TransDigm Inc. amended its Credit Agreement by entering into Amendment No. 15, Loan Modification Agreement and Refinancing Facility Agreement and Amendment to the Guarantee and Collateral Agreement, pursuant to which, among other things, it (x) repriced all of its tranche I term loans maturing August 24, 2028 and (y) repriced and extended the maturity date of all of its tranche H term loans into tranche K term loans maturing March 22, 2030.
