UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
Amendments to Securitization Facility
On December 22, 2023, Triumph Group, Inc. (the “Company”) entered into amendments to its existing $100 million receivables securitization facility (the “Receivables Securitization Facility,” and such amendments, the “Securitization Facility Amendments”), which was established in August 2008 and amended from time to time by entering into (i) a fourth amendment to amended and restated receivables purchase agreement and amendment to pledge agreement (the “RPA Amendment”), among Triumph Receivables, LLC, as seller, the Company, as servicer, the various purchasers, LC participants and purchaser agents from time to time party thereto, and PNC Bank, National Association, as administrator and as LC bank and (ii) a second amendment to amended and restated purchase and sale agreement, among the various entities listed therein, as the originators, the Company, individually and as servicer and Triumph Receivables, LLC. The Securitization Facility Amendments extend the Receivables Securitization Facility to December 22, 2025, decrease the facility size to $75,000,000 and amend certain other terms, including, without limitation, changes to certain reporting requirements and termination events, updates to benchmark replacement provisions to change the benchmark interest rate to Secured Overnight Financing Rate (SOFR), and the release of certain subsidiary originators. The foregoing description is only a summary and is qualified in its entirety by reference to the amendments described above, which are filed as exhibits to this Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TRIUMPH GROUP, INC. | ||||||
| Date: December 29, 2023 |
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By: | /s/ Jennifer H. Allen | |||
| Jennifer H. Allen Chief Administrative Officer, General Counsel and Secretary | ||||||