Triumph Group prices offering of $350 million of notes

Triumph Group prices note offering

WAYNE, Pa. — Triumph Group Inc. said Tuesday its offering of $350 million of senior notes due 2018 will have an interest rate of 8.625 percent per year and the notes are being issued at a price of 99.27 percent of their face value.

The offering is part of the financing for Triumph’s planned acquisition of Vought Aircraft Industries Inc. Triumph, which designs, repairs and overhauls aircraft parts and accessories, announced the acquisition in March. It valued the deal at $1.44 billion, including debt.

Shares of Triumph rose 21 cents to close at $61.72.