TransDigm’s $4 Billion of High‑Yield Senior Secured Notes Offerings

Cravath represented the initial purchasers, led by Morgan Stanley and Credit Suisse, in connection with the $3.8 billion 144A/Reg. S high‑yield senior secured notes offering and the $200 million 144A/Reg. S high‑yield senior secured tack‑on notes offering of TransDigm Inc., a leading global designer, producer and supplier of highly engineered aircraft components. Proceeds of the offering were used to fund the acquisition of Esterline Technologies Corporation. Cravath also represented the initial purchasers in connection with TransDigm’s concurrent senior subordinated notes offering. The transactions closed on February 13, 2019.

The Cravath team included partner Bill Whelan and associates Randall F. Limberg, Edward O. Minturn and Samuel A. Lifton, and associates Andrew T. Davis and Rebecca L. Fine on tax matters. Samyel Lee also worked on securities matters.