WAYNE, Pa.--(BUSINESS WIRE)--Oct. 24, 2006--Triumph Group, Inc.
(NYSE:TGI) today announced an amendment to its existing revolving
credit agreement which increased the size, modified the fee structure
and extended the term.
The amendment increased the company's unsecured revolving credit
facility from $250,000,000 to $350,000,000 and also extended the term
of the credit facility by one year, through June 30, 2011. The
interest rate on the credit facility fluctuates between LIBOR plus
62.6 and 200 basis points based on certain financial measurements. The
company intends to use the facility for working capital purposes,
internal growth initiatives, funding of future acquisitions and other
general corporate purposes.
Richard C. Ill, Triumph's President and Chief Executive Officer,
said, "This new unsecured facility, along with the proceeds from our
recently announced sale of convertible senior subordinated notes,
provides us with greater financial flexibility to support our
strategic vision of continued long-term growth while maintaining a
strong and healthy balance sheet."
Triumph Group, Inc., headquartered in Wayne, Pennsylvania,
designs, engineers, manufactures, repairs and overhauls aircraft
components and accessories. 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 Internet 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's reports filed with the
SEC, including our Annual Report on Form 10-K for the year ended March
CONTACT: Triumph Group, Inc.
Senior Vice President,
Chief Financial Officer
SOURCE: Triumph Group, Inc.