-Issuance of $525 million of 6.250% Senior Secured Notes due 2024
-Amendment and Extension of Credit Facility
-Redemption of $375 million of 4.875% Senior Notes due 2021
Triumph Group, Inc. ("Triumph") (NYSE:TGI) today announced the closing of its previously announced offering of $525.0 million in aggregate principal amount of senior secured notes due 2024 (the "Notes"), the amendment and extension of its credit facility, and the prepayment and discharge of its 4.875% Senior Notes due 2021 (the "2021 Notes"), which have been called for redemption.
The Company used $385.3 million of the net proceeds of the offering to prepay the redemption of its 2021 Notes, and the remainder of the net proceeds to repay amounts outstanding under its credit facility and pay fees and expenses.
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"). 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.