TransDigm asks lenders to allow possible dividend

TransDigm asks lenders to increase credit to allow special dividend of up to $850M this year

Associated Press

CLEVELAND (AP) -- TransDigm Group Inc. said Wednesday it has asked lenders to increase its credit facility so that it can pay its shareholders a special dividend.

The Cleveland-based aircraft parts maker said it is considering paying between $400 and $850 million to shareholders before the end of the year, using funds from the possible new debt financing.

TransDigm shares rose $1.55, or 1.1 percent, to $143.63 in afternoon trading.

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