v3.26.1
DEBT
 6 Months Ended
Mar. 28, 2026
Debt Disclosure [Abstract]  
DEBT DEBT
The Company’s debt consists of the following (in millions):
March 28, 2026
Gross AmountDebt Issuance CostsOriginal Issue DiscountNet Amount
Short-term borrowings—trade receivable securitization facility$725 $(1)$— $724 
Term loans$11,896 $(48)$(32)$11,816 
6.750% secured notes due 2028 (“2028 Secured Notes”)
2,100 (9)(5)2,086 
4.625% senior subordinated notes due 2029 (“4.625% 2029 Notes”)
1,200 (4)— 1,196 
6.375% secured notes due 2029 (“2029 Secured Notes”)
2,750 (15)(1)2,734 
4.875% senior subordinated notes due 2029 (“4.875% 2029 Notes”)
750 (3)— 747 
6.875% secured notes due 2030 (“2030 Secured Notes”)
1,450 (9)— 1,441 
7.125% secured notes due 2031 (“2031 Secured Notes”)
1,000 (7)(5)988 
6.625% secured notes due 2032 (“2032 Secured Notes”)
2,200 (16)— 2,184 
6.000% secured notes due 2033 (“2033 Secured Notes”)
1,500 (11)— 1,489 
6.375% senior subordinated notes due 2033 (“6.375% 2033 Notes”)
2,650 (13)(18)2,619 
6.250% secured notes due 2034 (“2034 Secured Notes”)
500 (4)— 496 
6.750% senior subordinated notes due 2034 (“6.750% 2034 Notes”)
2,000 (17)— 1,983 
6.125% senior subordinated notes due 2034 (“Initial 6.125% 2034 Notes”)
1,200 (11)— 1,189 
Government refundable advances8 — — 8 
Finance lease obligations303 — — 303 
31,507 (167)(61)31,279 
Less: current portion130 (1)— 129 
Long-term debt$31,377 $(166)$(61)$31,150 
Accrued interest, which is classified as a component of accrued and other current liabilities on the condensed consolidated balance sheets, was $284 million and $208 million as of March 28, 2026 and September 30, 2025, respectively.

Issuance of Initial 6.125% 2034 Notes – On February 13, 2026, the Company entered into a purchase agreement in connection with a private offering of $1,200 million in aggregate principal amount consisting of the Initial 6.125% 2034 Notes at an issue price of 100% of the principal amount. The Initial 6.125% 2034 Notes were issued pursuant to an indenture, dated as of February 13, 2026, amongst TransDigm Inc., as issuer, TransDigm Group and the other subsidiaries of TransDigm Inc. named therein, as guarantors. The Initial 6.125% 2034 Notes bear interest at the rate of 6.125% per annum, which accrues from February 13, 2026 and is payable in arrears on January 31 and July 31 of each year, commencing on July 31, 2026. The Initial 6.125% 2034 Notes mature on July 31, 2034, unless earlier redeemed or repurchased, and are subject to the terms and conditions set forth in the related indenture.
The Company capitalized approximately $11 million in debt issuance costs associated with the Initial 6.125% 2034 Notes during the twenty-six week period ended March 28, 2026.
Subsequent Event – Issuance of $500 Million of Senior Subordinated Notes due 2034 – On April 17, 2026, the Company entered into a purchase agreement in connection with a private offering of $500 million in aggregate principal amount consisting of the 6.125% 2034 Notes (the “New 6.125% 2034 Notes”) at an issue price of 100.375%, or a premium of approximately $2 million, of the principal amount. The New 6.125% 2034 Notes were issued pursuant to a supplemental indenture, dated as of April 17, 2026, which is substantially the same as the terms and conditions that apply to the Initial 6.125% 2034 Notes indenture dated as of February 13, 2026.
Amendment No. 20 and Incremental Term Loan Assumption Agreement – On February 13, 2026, the Company entered into Amendment No. 20 and Incremental Term Loan Assumption Agreement (herein, “Amendment No. 20”), pursuant to which the Company, among other things, incurred $800 million in Tranche N term loans (the “Initial Tranche N term loans”). Original issue discount of 0.125%, or $1 million, was paid to the lenders of the Initial Tranche N term loans. The other terms and conditions that apply to the Initial Tranche N term loans are substantially the same as the terms and conditions that apply to the other term loans existing under the Term Loans Facility. The Initial Tranche N term loans were fully drawn on February 13, 2026.
The Company capitalized approximately $8 million in debt issuance costs associated with Amendment No. 20 during the twenty-six week period ended March 28, 2026.
Subsequent Event – Amendment No. 21 and Incremental Term Loan Assumption Agreement – On April 17, 2026, the Company entered into Amendment No. 21 and Incremental Term Loan Assumption Agreement (herein, “Amendment No. 21”), pursuant to which the Company, among other things, incurred $1,000 million in new Tranche N term loans (the “New Tranche N term loans”). Original issue discount of 0.125%, or approximately $1 million, was paid to the lenders of the New Tranche N term loans. The other terms and conditions that apply to the New Tranche N term loans are substantially the same as the terms and conditions that apply to the other term loans existing under the Term Loans Facility.
Principal payments for the Initial and New Tranche N term loans commence on June 30, 2026, in which approximately $4.5 million is to be paid on a quarterly basis up to the February 13, 2033 maturity date. The Initial and New Tranche N term loans bear interest at the rate of Term SOFR plus 2.50% per annum, which accrued from February 13, 2026, and is payable in arrears on March 31, June 30, September 30, and December 31 of each year, commencing on June 30, 2026.
Use of Proceeds
The Company used the net proceeds from the February 13, 2026 issuances of the Initial 6.125% 2034 Notes and the Initial Tranche N terms loans, along with cash on hand, to fund the purchase price of the acquisition of JPE and VSA and for related transaction fees and expenses.
The Company intends to use the net proceeds from the April 17, 2026 issuances of the New 6.125% 2034 Notes and the New Tranche N terms loans, along with cash on hand, to fund the purchase price of the expected acquisition of Stellant and for general corporate purposes, including replenishment on our balance sheet of a portion of the cash used to fund the common stock repurchases (refer to Note 5, “Stock Repurchase Program”) and for related transaction fees and expenses.