October 1, 2009 (FinancialWire) — TransDigm Group Inc. (NYSE: TDG) is planning to offer $425 million of senior subordinated notes due July 2014.

The company plans to use the net proceeds of the offering to pay a special cash dividend to its stockholders in the range of $7.50 to $7.70 per share. It will also use the funds to make cash dividend equivalent payments to certain holders of options to purchase its common stock under its 2006 stock incentive plan dividend equivalent plan and its 2003 stock option dividend equivalent plan, and for general corporate purposes.

The notes are a new issuance of notes and will be senior subordinated obligations of TransDigm, ranking pari passu with around $575 million of the company’s outstanding 7-3/4% senior subordinated notes due July 2014.

Cleveland-based TransDigm is a designer, producer and supplier of aircraft components used by commercial and military aircraft.

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