BERWYN, Pa.--(BUSINESS WIRE)--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
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 www.triumphgroup.com.
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, 2014.
Source: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo
Vice President-Tax &