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Triumph Group Finalized Refinancing Transactions

By Auto Tech Outlook | Thursday, October 03, 2019

The Triumph group announced closing of previously announced offering, and the group have redemption of 375 million USD of 4.875 percent Senior Notes are due 2021.

FREMONT, CA: Triumph Group has announced the closing of its previously announced offering of 525.0 million USD in total principal amount of senior secured notes due 2024 (the "Notes"). The extension and amendment of its credit facility, and the prepayment and discharge of its 4.875 percent Senior Notes owing to 2021 have been called for redemption.

Headquartered in Berwyn, Pennsylvania, Triumph Group, designs, engineers, manufactures, repairs, and overhauls a broad portfolio of aerospace and defense systems, components and structures. The firm serves the aviation industry on the whole. It includes original equipment manufacturers and the full range of military and commercial aircraft operators.

To release the 2021 Notes, the company used 385.3 million USD of the net proceeds of the offering, while the remainder of the net proceeds to repay amounts outstanding under its credit facility and pay fees and expenses.

The Notes were given to qualified institutional buyers according to Rule 144A and Regulation S under the Securities Act of 1933 in a private placement. The Notes are not registered under the Securities Act or state securities laws. That is why it may not be sold in the United States.

Some of the statements in this release are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. Most of the forward-looking statements are consist of risks and uncertainties. It may affect the real result of the company, and could cause a difference from any forward-looking statements of the company.

Check Out : Top Aerospace Manufacturing Companies

Triumph's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2019, and it’s Quarterly Report on Form 10-Q. The other information regarding the critical factors that could cause actual results to differ from projected results can be found in the report.

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