Transdigm Group Incorporated

07/27/2021 | Press release | Distributed by Public on 07/27/2021 06:48

Purchase Agreement (Form 8-K)

Entry into a Material Definitive Agreement.
On July 27, 2021, TransDigm Inc. (the 'Company') and its subsidiary, TransDigm Receivables LLC, and the lenders under TransDigm's accounts receivable securitization facility originated in October 2013 (the 'Securitization Facility') amended the Securitization Facility pursuant to a Thirteenth Amendment to the Receivables Purchase Agreement. Among other things, the amendment to the Securitization extends the maturity date to July 26, 2022, and accounts for certain changes in law and market practice since the Twelfth Amendment to the Receivables Purchase Agreement. As of July 3, 2021, the Company had borrowed $350 million under the Securitization Facility. The Securitization Facility is collateralized by substantially all of the Company's domestic operations' trade accounts receivable.
The foregoing summary of the amendment to the Securitization Facility does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Thirteenth Amendment to the Receivables Purchase Agreement.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 regarding the Securitization Facility is incorporated by reference into this Item 2.03.