Triumph Group talks $175 million offering of eight-year senior subordinated notes at 8¾% area

By Paul A. Harris

St. Louis, Nov. 9 - Triumph Group, Inc. talked its $175 million offering of eight-year senior subordinated notes (Ba3/B+) at the 8¾% area on Monday, according to an informed source.

The books close at 11 a.m. ET on Tuesday, except for West Coast accounts, for which the books will remain open until 4 p.m. ET. Pricing is expected shortly thereafter.

Bank of America Merrill Lynch and J.P. Morgan Securities Inc. are joint bookrunners for the Rule 144A with registration rights offering. RBS Securities Inc. and PNC Capital Markets are senior co-managers. BB&T Securities is the junior co-manager.

The notes are being offered with five years of call protection.

Proceeds will be used for general corporate purposes, which may include debt reduction and repayment of the company's revolver without any permanent reductions.

The prospective issuer is a Wayne, Pa.-based supplier of aerospace systems and components.

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