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TGI - Triumph launches proposed private offering of senior notes
Triumph Group Inc.
Triumph ( NYSE: TGI ) commenced a refinancing of its outstanding secured bonds, through an offering of $1.2B principal amount of senior secured first lien notes due in 2028.
Net proceeds will be used to redeem or otherwise acquire all of its outstanding 8.875% Senior Secured First Lien Notes due 2024 and 6.250% Senior Secured Notes due 2024.
The company also launched a tender offer to acquire any or all of the existing second lien notes