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Triumph Group redeems senior notes due 2018 & 2026
23
May '14
Triumph Group, Inc. 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.
 

Triumph Group

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