TransDigm completes $3 billion senior secured notes offering
The aerospace company issued new 6.75% senior secured notes due 2035 to fund a concurrent tender offer and for general corporate purposes.
TransDigm Group Incorporated (TDG) said Monday it completed its previously announced offering of $3,000 million of new 6.75% Senior Secured Notes maturing January 2035, according to a regulatory filing.
The notes were issued at an issue price of 100.00% of the principal amount by TransDigm Inc., a wholly-owned subsidiary of TransDigm Group.
The company said it intends to use the net proceeds from the offering to repurchase $2,100 million of the issuer's outstanding 6.75% Senior Secured Notes due 2028 through a concurrent tender offer that launched on September 14, 2026. Remaining proceeds will go toward general corporate purposes.
The notes bear interest at a rate of 6.75% per annum, accruing from September 28, 2026. Interest is payable in arrears on January 31 and July 31 of each year, with the first payment starting on January 31, 2027. The notes mature on January 31, 2035.
The offering was conducted through a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S of the Securities Act of 1933.
The notes are senior secured obligations guaranteed on a senior secured basis by TransDigm Group and each of the issuer's direct and indirect restricted subsidiaries that are borrowers or guarantors under the company's senior secured credit facilities, alongside any subsidiary issuing or guaranteeing capital markets indebtedness of at least $200 million.
The indenture names The Bank of New York Mellon Trust Company, N.A., as trustee and US collateral agent, and The Bank of New York Mellon as UK collateral agent.