Triumph Group announces proposed private offering of senior secured notes

Triumph Group announced that it has commenced a refinancing of its outstanding secured bonds, through an offering of $1.2 billion aggregate principal amount of senior secured first lien notes due in 2028. The Notes will be guaranteed by the same subsidiaries that guaranty Triumph’s 7.750% Senior Notes due 2025, and will be secured by first-priority liens on substantially all of the Company’s and the Guarantors’ assets. Triumph intends to use the net proceeds from the Notes Offering to redeem or otherwise acquire all of its outstanding 8.875% Senior Secured First Lien Notes due 2024 and 6.250% Senior Secured Notes due 2024. Subject to the successful completion of the Notes Offering, the Company intends to redeem all of the outstanding Existing First Lien Notes.