Triumph Group Announces Redemption of 8.625% Senior Notes Due 2018 and
2.625% Senior Subordinated Notes Due 2026
BERWYN, Pa. -- May 22, 2014
Triumph Group, Inc. (NYSE:TGI) today announced that it gave the required
notice under the governing indentures to redeem for cash all of its
outstanding (i) 8.625% Senior Notes due 2018 (the “2018 Senior Notes”) and
(ii) 2.625% Convertible Senior Subordinated Notes due 2026 (the “Convertible
Notes”) on June 23, 2014, the redemption date for the 2018 Senior Notes and
the Convertible Notes.
The redemption price for the 2018 Senior Notes is equal to the sum of 100% of
the principal amount of the 2018 Senior Notes outstanding, the applicable
premium calculated in accordance with the terms of the 2018 Senior Notes and
the related indenture under which the 2018 Senior Notes were issued, and the
accrued and unpaid interest on the 2018 Senior Notes up to, but not including,
the redemption date of June 23, 2014. The aggregate principal amount of the
2018 Senior Notes outstanding is $350,000,000.
The redemption price for the Convertible Notes is equal to the sum of 100% of
the principal amount of the Convertible Notes outstanding, plus accrued and
unpaid interest on the Convertible Notes up to, but not including, the
redemption date of June 23, 2014. The aggregate principal amount of the
Convertible Notes outstanding is approximately $10,200,000. The Convertible
Notes may be converted at the option of the holder at any time until 5:00 p.m.
(New York City time) on June 20, 2014. The Convertible Notes surrendered for
conversion will be settled in cash or stock in accordance with the provisions
of the indenture governing the Convertible Notes.
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs,
engineers, manufactures, repairs and overhauls a broad portfolio of
aerostructures, aircraft components, accessories, subassemblies and systems.
The company serves a broad, worldwide spectrum of the aviation industry,
including original equipment manufacturers of commercial, regional, business
and military aircraft and aircraft components, as well as commercial and
regional airlines and air cargo carriers.
More information about Triumph can be found on the company’s website at
Statements in this release which are not historical facts are forward-looking
statements under the provisions of the Private Securities Litigation Reform
Act of 1995. All forward-looking statements involve risks and uncertainties
which could affect the company’s actual results and could cause its actual
results to differ materially from those expressed in any forward looking
statements made by, or on behalf of, the company. Further information
regarding the important factors that could cause actual results to differ from
projected results can be found in Triumph Group’s reports filed with the SEC,
including our Annual Report on Form 10-K for the fiscal year ended March 31,
Triumph Group, Inc.
Sheila G. Spagnolo
Vice President-Tax & Investor Relations
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