Triumph Announces Completion of Debt Refinancing


BERWYN, PA — Triumph Group, Inc. (NYSE: TGI) announced that it recently completed its previously announced offering of $1.2 billion aggregate principal amount of 9.000% Senior Secured First Lien Notes due March 15, 2028.

TRIUMPH used $1,181.6 million of the net proceeds of the offering to (i) redeem in full all of the Company’s existing 8.875% Senior Secured First Lien Notes due 2024, (ii) acquire in a tender offer a portion of the Company’s existing 6.250% Senior Secured Notes due 2024, (iii) redeem the balance of the Existing Second Lien Notes that were not tendered in the tender offer, (iv) pay off existing borrowings, without a reduction in commitment, under its receivables securitization facility and (v) increase the Company’s available cash for general corporate purposes.

“The successful completion of our debt refinancing advances our comprehensive deleveraging plan. As we continue to enhance our capital structure, we remain focused on execution and growth for the benefit of our stakeholders,” said Dan Crowley, TRIUMPH’s chairman, president, and chief executive officer.

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 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.

Additional information can be found in an 8-K filed with the Securities and Exchange Commission.

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