*Credit Suisse and Bank of America are out with a refinancing for TransDigm. The deal consists of a six-year, $150 million revolver and a seven-year, $650 million term loan "B." Pricing was expected in the LIBOR plus 2% range. According to Moody's Investors Service, proceeds from the term loan, along with a planned public subordinated debt offering, will be used to repay all of the company's existing debt, including $400 million of subordinated notes due 2011. It will also repay a $200 million private loan issued by its parent company.
*Ares Management appointed Miles Alexander to begin development of its European business based in London.