New Issue: Triumph prices $175 million 8% eight-year notes at 98.558 to yield 8¼%

By Paul A. Harris

St. Louis, Nov. 10 - Triumph Group, Inc. priced a $175 million issue of 8% eight-year senior subordinated notes (Ba3/B+/) at 98.558 to yield 8¼% on Tuesday, according to an informed source.

The yield printed at the tight end of the 8 3/8% area price talk.

Bank of America Merrill Lynch and J.P. Morgan Securities Inc. were the joint bookrunners.

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

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

Issuer:	Triumph Group, Inc.
Face amount:	$175 million
Proceeds:	$172,477,000 (approximate)
Maturity:	Nov. 1, 2017
Securities:	Senior subordinated notes
Bookrunners:	Bank of America Merrill Lynch, J.P. Morgan Securities Inc.
Co-managers:	RBS Securities Inc., PNC Capital Markets
Junior co-manager:	BB&T Securities
Coupon:	8%
Price:	98.558
Yield:	8¼%
Spread:	502 bps
Call protection:	Make-whole call at Treasuries plus 50 bps until Nov. 15, 2013, then callable at a premium
Trade date:	Nov. 10
Settlement date:	Nov. 16
Ratings:	Moody's: Ba3
	Standard & Poor's: B+
Distribution:	Rule 144A with registration rights/Regulation S
Price talk:	8 3/8% area

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