Triumph Group talks $350 million eight-year notes with 8½%-8¾% yield

By Paul A. Harris

St. Louis, June 7 - Triumph Group, Inc. talked its $350 million offering of eight-year senior unsecured notes (Ba3/B+) to yield 8½% to 8¾%, an informed source said.

The books close at 11 a.m. ET on Tuesday, and the notes are set to price thereafter.

RBC Capital Markets Corp. is the left bookrunner for the Rule 144A with registration rights offering. UBS Investment Bank is the joint bookrunner.

PNC Capital Markets is the senior co-manager. BB&T Capital Markets and USBank Securities are the co-managers.

The notes come with four years of call protection as well as a three-year 35% equity clawback and a 101% poison put.

Proceeds will be used to partially fund the acquisition of Vought Aircraft.

Triumph is a Wayne, Pa.-based designer, engineer, manufacturer and repairer of aircraft components and accessories.

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