BERWYN, Pa.--(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.