TransDigm Seeks Additional $650 Million Loan, Tied To Possible Special Dividend

TransDigm Group Inc. said Tuesday that it is seeking an additional $650 million term loan, tied to its consideration of a special cash dividend in the range of $1.1 billion and $1.5 billion. The timing and aggregate amount of the dividend is yet to be determined, nor is the dividend or financing definite. The airplane components producer also reconfirmed its guidance. Sales are expected to be at or slightly below the low end of the $3.17 billion to $3.19 billion range. And earnings before interest, taxes, depreciation and amortization are expected to be at or slightly above the midpoint of the range of $1.48 billion and $1.50 billion. The company will announce fiscal third-quarter results on Nov. 14. TransDigm shares are inactive in premarket trading and up 33.2% for the past year. The S&P 500 Index is up 10.8% for the last 12 months.