New Issue: Triumph Group prices $350 million 8 5/8% eight-year notes to yield 8¾%

By Paul A. Harris

St. Louis, June 8 - Triumph Group, Inc. priced a $350 million issue of 8 5/8% eight-year senior notes (Ba3/B+/) at 99.27 to yield 8¾% on Tuesday, according to an informed source.

The yield printed at the wide end of the 8½% to 8¾% price talk.

RBC Capital Markets Corp. was the left bookrunner. UBS Investment Bank was the joint bookrunner.

The senior co-manager was PNC Capital Markets. Co-managers were BB&T Capital Markets and USBank Securities.

Proceeds will be used to partially fund the acquisition of Vought Aircraft.

Triumph is a Wayne, Pa.-based designer, engineer, manufacturer and repairer of aircraft components and accessories.

Issuer:	Triumph Group, Inc.
Face amount:	$350 million
Proceeds:	$347,445,000
Maturity:	July 15, 2018
Securities:	Senior notes
Bookrunners:	RBC Capital Markets Corp., UBS Investment Bank
Senior co-manager:	PNC Capital Markets
Co-managers:	BB&T Capital Markets, USBank Securities
Coupon:	8 5/8%
Price:	99.27
Yield:	8¾%
Spread:	592 bps
Call protection:	Make-whole call at Treasuries plus 50 bps until July 15, 2014, then callable at 104.313, 102.156, par on and after July 15, 2016
Equity clawback:	35% at 108.625 until July 15, 2013
Change-of-control put:	101%
Trade date:	June 8
Settlement date:	June 16
Ratings:	Moody's: Ba3
	Standard & Poor's: B+
Distribution:	Rule 144A with registration rights and Regulation S
Price talk:	8½% to 8¾%

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