CLEVELAND, Oct. 29, 2019 /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 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 a portion of the net proceeds
from the offering of the Notes to redeem all of its outstanding
6.00% senior subordinated notes due 2022. The remaining net
proceeds will be used for general corporate purposes, which may
include potential future acquisitions, dividends or repurchases
under its stock repurchase program.
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 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, NiCad batteries and chargers, engineered
latching and locking devices, rods and locking devices, engineered
connectors and elastomers, databus and power controls, cockpit
security components and systems, specialized cockpit displays,
aircraft audio systems, specialized lavatory components, seat belts
and safety restraints, engineered interior surfaces and related
components, advanced sensor products, switches and relay panels,
advanced displays, thermal protection and insulation, lighting and
control technology, military personnel 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 sensitivity of TransDigm Group's business to the number of
flight hours that TransDigm Group's customers' planes spend aloft
and TransDigm Group's 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; failure to maintain government or industry approvals;
failure to complete dispositions or acquisitions or successfully
integrate acquisitions, including TransDigm Group's acquisition of
Esterline; 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
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 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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