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TransDigm Announces Request to Amend Credit Facility and Considers Paying Special Dividend


TransDigm Group Incorporated (NYSE: TDG) today announced that it has requested an amendment to its credit facility in connection with considering whether to pay a special dividend, reaffirmed certain aspects of guidance for its just completed fiscal 2012 and announced market assumptions for fiscal 2013.

Request to Amend Credit Facility and Consideration of Paying a Special Dividend

TransDigm Inc. has requested that its senior lenders consent to an amendment to its senior secured credit facilities to permit, among other things, a special dividend in an amount not to exceed $850 million, to increase its existing senior secured term facility by $150 million and to reset certain ratios in its revolving credit facility.

TransDigm Group is considering paying a cash dividend in the range of $400 million to $850 million on or before December 31, 2012 with the potential proceeds of newly incurred debt financing. The specific aggregate amount of the dividend, if any, has not been determined and there can be no assurance that such dividend will be declared and paid or that any potential related debt financing will be incurred. Whether to pay the dividend and the amount thereof is subject to consideration of various factors by TransDigm's Board of Directors, including, among other things, TransDigm's financial position and the availability of capital on favorable terms.

Posted-In: News Dividends Financing


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