TDG · 10-K · 2026A · Full report

Outstanding Indebtedness

TransDigm Group INC · 2026-11-10 · Importance 66 · Surprise 40 · No source text

Total debt was $34,763 million at September 30, 2026, up from $30,015 million a year earlier; approximately 75% of gross debt was fixed rate. Fiscal 2026 debt issuance included $2.0 billion in February and $1.5 billion in April, with proceeds used for acquisitions, repurchases and general corporate purposes; the company issued a further $3.0 billion of 6.750% secured notes due 2035 in September. TransDigm repurchased approximately $1,831 million of its 2028 secured notes for total consideration of $1,008 per $1,000 principal amount, leaving approximately $269 million outstanding at fiscal year-end. Its $12,803 million term-loan facility had maturities from March 2030 through February 2033, and the $875 million securitization-facility balance matured July 9, 2027.

Key facts

• On February 13, 2026, TransDigm issued $2,000 million of debt: $1,200 million of 6.125% senior subordinated notes due 2034 and $800 million of Tranche N term loans bearing Term SOFR plus 2.50%; proceeds and cash on hand funded JPE and VSA and related fees and expenses. source
• On April 17, 2026, TransDigm issued $1,500 million of additional debt: $500 million of 6.125% senior subordinated notes due 2034 and $1,000 million of Tranche N term loans bearing Term SOFR plus 2.50%. source
• The April 17, 2026 debt proceeds were intended to fund the proposed Stellant Systems acquisition, common-stock repurchases, and general corporate purposes; after TransDigm withdrew from the proposed acquisition on July 13, 2026, there was no special mandatory redemption and the debt remained outstanding. source
• On September 28, 2026, TransDigm issued $3,000 million of 6.750% senior secured notes due 2035 at par; proceeds were used to repurchase tendered 2028 Secured Notes and for general corporate purposes. source
• On September 14, 2026, TransDigm announced a cash tender offer for all $2,100 million of its 6.750% Senior Secured Notes due 2028; on September 29 it repurchased approximately $1,831 million tendered before the early deadline, paying $1,008 per $1,000 principal plus accrued interest. source
• As of September 30, 2026, TransDigm had $12,803 million in fully drawn term loans and a $910 million revolving credit facility; term-loan maturities ranged from March 22, 2030 to February 13, 2033, with quarterly aggregate principal payments of $32 million. source
• No tranche of term loans or notes matured before August 2028; the $875 million outstanding under the Securitization Facility matured July 9, 2027. source
• At September 30, 2026, TransDigm had $45 million in letters of credit outstanding and $865 million available under revolving commitments; revolving draws bore Term SOFR plus 2.25%, and the facility matured February 27, 2029. source

Impact estimates