TransDigm proposes $3 bln secured debt offering; shares down
** Aircraft components maker TransDigm's shares TDG.N fall 3% to $1,332.00
** TDG to offer incremental $3 bln of new secured debt, comprising $1.5 bln of new secured notes and $1.5 bln of new term loans
** Brokerage TD Cowen says offering should enable co's capacity to fund over $4 bln of M&A
** Meanwhile, co says proceeds to fund special cash dividend to holders of common stock in range of $3.5 bln to $4.5 bln, as well as for cash dividend equivalent payments on eligible vested options under its stock option plans
** "Investors may view the special dividend as evidence of a less actionable M&A pipeline" - TD Cowen
** Six brokerages rate the stock "strong buy", thirteen "buy" and seven "hold"; their median PT is $1481.44 - LSEG data
** Up to last close, stock had risen ~32% YTD
Reporting by Aatreyee Dasgupta
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