TRANSDIGM GROUP INC : Entry into a Material Definitive Agreement (form 8-K)
July 27, 2021 at 08:49 am EDT
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Item 1.01. Entry into a Material Definitive Agreement.
On July 27, 2021, TransDigm Inc. (the "Company") and its subsidiary, TransDigm
Receivables LLC, and the lenders under TransDigm's accounts receivable
securitization facility originated in October 2013 (the "Securitization
Facility") amended the Securitization Facility pursuant to a Thirteenth
Amendment to the Receivables Purchase Agreement. Among other things, the
amendment to the Securitization extends the maturity date to July 26, 2022, and
accounts for certain changes in law and market practice since the Twelfth
Amendment to the Receivables Purchase Agreement. As of July 3, 2021, the Company
had borrowed $350 million under the Securitization Facility. The Securitization
Facility is collateralized by substantially all of the Company's domestic
operations' trade accounts receivable.
The foregoing summary of the amendment to the Securitization Facility does not
purport to be complete and is subject to, and qualified in its entirety by, the
full text of the Thirteenth Amendment to the Receivables Purchase Agreement.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 regarding the Securitization Facility is
incorporated by reference into this Item 2.03.
TransDigm Group Inc. specializes in the design, manufacturing and marketing of aerospace systems and components. Net sales break down by family of products as follows:
- engine components and control systems (50.3%): mechanical and electromechanical actuators and control systems, pumps and engine control systems, power regulators, ignition systems, thermal management systems, fluid management systems, batteries and power supply systems, motion sensors, data recording, analysis and processing systems, etc. The group also offers winches, lifting systems and cargo handling systems;
- cabin systems and equipment (47%): cockpit safety components and systems, locking systems and devices, connectors, audio control systems, specialized sanitary equipment, seat belts and safety devices, interior fittings (seats, display systems, on-board entertainment systems, etc.) lighting systems, parachutes, freight delivery systems, etc. ;
- other (2.7%): non-aeronautical systems and equipment.
At the end of September 2023, the group operated approximately 100 production sites worldwide.
The United States accounts for 64.8% of net sales.