Triumph Group Announces Pricing of $500 Million of 7.75% Senior Notes Due 2025
August 08 2017 - 4:41PM
Business Wire
Triumph Group, Inc. (“Triumph”) (NYSE:TGI) today
announced the pricing of its previously announced offering of $500
million in aggregate principal amount of senior notes due 2025 (the
“Notes”). The Notes will have an interest rate of 7.75% per annum
and are being issued at a price equal to 100% of their face value.
The Notes will be issued by Triumph and guaranteed on a full, joint
and several basis by each of Triumph’s domestic restricted
subsidiaries that is a borrower under any of the credit facilities
or that guarantees any debt of Triumph or any of its domestic
restricted subsidiaries under any credit facility, and in the
future by any of the company's domestic restricted subsidiaries
that are borrowers under any company credit facility or that
guarantee any debt of Triumph or any of its restricted subsidiaries
incurred under any credit facility. Triumph intends to use the net
proceeds of the offering to repay amounts outstanding under its
credit facilities and pay related fees and expenses. The offering
is expected to close on August 17, 2017, subject to customary
conditions to closing.
The Notes were offered in a private placement to qualified
institutional buyers pursuant to Rule 144A and Regulation S under
the Securities Act of 1933, as amended (the “Securities Act”),
subject to market and other conditions. The Notes have not been
registered under the Securities Act or state securities laws and
may not be offered or sold in the United States absent registration
or pursuant to an applicable exemption from the registration
requirements of the Securities Act and any applicable state
securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall it constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania,
designs, engineers, manufactures, repairs and overhauls a broad
portfolio of aircraft structures, components, accessories,
subassemblies and systems. Triumph serves a broad, worldwide
spectrum of the aviation industry, including original equipment
manufacturers of commercial, regional, business and military
aircraft and aircraft components, as well as commercial and
regional airlines and air cargo carriers.
Statements in this release which are not historical facts are
forward-looking statements under the provisions of the Private
Securities Litigation Reform Act of 1995. All forward-looking
statements involve risks and uncertainties which could affect the
company’s actual results and could cause its actual results to
differ materially from those expressed in any forward-looking
statements made by, or on behalf of, the company. Further
information regarding the important factors that could cause actual
results to differ from projected results can be found in Triumph
Group’s reports filed with the SEC, including our Annual Report on
Form 10-K for the fiscal year ended March 31, 2017, and our
Quarterly Report on Form 10-Q for the fiscal quarter ended June 30,
2017.
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version on businesswire.com: http://www.businesswire.com/news/home/20170808006477/en/
Triumph Group, Inc.Media
Contact:Michele Long,
610-251-1000mmlong@triumphgroup.comorInvestor Relations Contact:Sheila G.
Spagnolo, 610-251-1000sspagnolo@triumphgroup.com
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