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News Release
Triumph Group Raises $150 Million in Long Term Notes

WAYNE, Pa.--(BUSINESS WIRE)--Dec. 2, 2002--Triumph Group, Inc. (NYSE:TGI) announced today that it has raised $150 million by issuing two series of ten-year senior notes in the U.S. private placement market.

Concurrently Triumph amended its unsecured senior credit facility to reduce the credit limit from $350 million to $250 million and to extend the expiration date thereof from June 13, 2004 through December 13, 2006 with its bank lending group, lead by PNC Bank. The proceeds from the private placement will be used to pay off existing indebtedness under the credit facility.

John R. Bartholdson, Senior Vice President and Chief Financial Officer of Triumph said, "These transactions enable the Company to take advantage of very attractive long term rates of interest, while providing continued access to capital through the credit line to grow our current businesses and maintain our aggressive acquisition program".

Triumph Group, Inc. headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and industrial gas turbine components and accessories.

The Company serves a broad, worldwide spectrum of the aviation industry, including commercial airlines and air cargo carriers, as well as original equipment manufacturers of aircraft and aircraft components and power generation equipment. The Company also distributes, processes and fabricates metal products.

More information about Triumph can be found on the World Wide Web Site at

Statements which are not historical facts, including statements regarding the effect of restructuring of debt on the Company's prospects for internal growth and its acquisition program, contained in this release are forward-looking statements under the provision of the Private Securities Litigation Reform Act of 1995.

All forward-looking statements involve risks and uncertainties including statements regarding the outlook for continued opportunities for future growth. The company wishes to caution readers that several important factors 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's reports filed with the SEC, including our Form 10-K for the year ended March 31, 2002.

CONTACT: Triumph Group, Inc., Wayne
John Bartholdson, 610/251-1000