Triumph Group Announces Amendment of Revolving Credit Agreement
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 maturity to five years.
The amendment increased the company's secured revolving credit facility from $850 million to $1 billion with a $50 million accordion feature and also extended the term through May 23, 2017. The amendment results in a more favorable pricing grid and a more streamlined package of covenants and restrictions. The company intends to use the facility for working capital purposes, internal growth initiatives, funding of future acquisitions and other general corporate purposes.
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