TransDigm Inc., TD Group and Certain Subsidiaries of TransDigm Enter into Amendment No. 10, Loan Modification Agreement and Refinancing Facility Agreement
December 14, 2022 at 04:17 pm EST
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On December 14, 2022, TransDigm Inc., a wholly-owned subsidiary of TransDigm Group Incorporated (TD Group), TD Group and certain subsidiaries of TransDigm entered into Amendment No. 10, Loan Modification Agreement and Refinancing Facility Agreement, pursuant to which, among other things, TransDigm repaid in full its existing approximately $1,725 million tranche G term loans maturing August 22, 2024 and replaced such loans with approximately $1,725 million new tranche H term loans (the New Tranche H Term Loans) maturing February 22, 2027, and Goldman Sachs Bank USA was appointed the administrative agent and collateral agent as successor to Credit Suisse AG. The applicable margin for the New Tranche H Term Loans bearing interest at Term SOFR is 3.25% compared to an applicable margin for the former tranche G loans which bore interest at LIBOR plus 2.25%. Original issue discount of 2% was paid to lenders of the New Tranche H Term Loans.
The New Tranche H Term Loans were fully drawn on December 14, 2022 and the other terms and conditions that apply to the New Tranche H Term Loans are substantially the same as the terms and conditions that applied to the term loans immediately prior to the Amendment. The Amendment amends that certain Second Amended and Restated Credit Agreement, dated June 4, 2014, as amended, with Goldman Sachs Bank USA, as administrative agent and collateral agent (as successor to Credit Suisse AG), and the other agents and lenders named therein.
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.
TransDigm Inc., TD Group and Certain Subsidiaries of TransDigm Enter into Amendment No. 10, Loan Modification Agreement and Refinancing Facility Agreement
TRANSDIGM GROUP INC. 
