Triumph Group redeems in full 8 7/8% notes due 2024

Chicago, March 14 – Triumph Group, Inc. said that it fully redeemed its 8 7/8% senior secured first-lien notes due 2024 in connection with the closing of its previously announced $1.2 billion offering of new 9% senior secured first-lien notes due March 15, 2028, according to a press release.

The $1,181,600,000 of proceeds are also being used to fund a tender offer, with early settlement for $514,315,000 of the notes on Tuesday. The company said that it will also use the proceeds to redeem the notes not tendered in the offer. There were originally $525 million of notes in that series.

Triumph is also paying off existing borrowings, without a reduction in the commitment, under its receivables securitization facility.

Based in Berwyn, Pa., Triumph designs, engineers, manufactures, repairs and overhauls aerospace and defense systems, components and structures.

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