TransDigm launches $500 million term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Jan. 30 - TransDigm Group Inc. launched its $500 million tack-on senior secured covenant-light term loan on Monday with talk of Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The loan, due Feb. 14, 2017, has 101 soft call protection for one year, the source said.

Credit Suisse Securities (USA) LLC and UBS Securities LLC are the lead banks on the deal.

Proceeds will be used to help fund the acquisition of AmSafe Global Holdings Inc. for $750 million from a group controlled by Berkshire Partners LLC and Greenbriar Equity Group LLC.

Closing is expected by the second quarter.

TransDigm is a Cleveland-based maker of aircraft components.

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