TransDigm reaffirms FY16 EBITDA view of $1.483B-$1.497B
TransDigm Group announced that it is seeking to increase its existing term loan facility by an additional $650M term loan in connection with considering whether to pay a special dividend. The Company is considering paying a cash dividend in the range of $1.1B-$1.5B with the proceeds of the proposed new term loan and cash on hand. In connection with the proposed additional term loan and related discussions with lenders, the Company is providing an update on its preliminary expectations for certain FY16 results relative to the guidance provided on August 9 in its Q3 earnings release. Based on these preliminary expectations the August 9 guidance still appears to be materially correct. Based on currently available information, the Company expects FY16 EBITDA to be at or modestly above the midpoint of the previously stated guidance range of $1.483B-$1.497B and net sales to be at or slightly below the low end of the guidance range.