BERWYN, Pa.--(BUSINESS WIRE)--Aug. 8, 2017--
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,
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Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo,