AAR Prices Upsized Offering of $550M 6.750% Senior Notes Due 2029 To Finance Triumph Product Support Acquisition

Author: Benzinga Newsdesk | February 15, 2024 03:44am

 The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes. The Notes will bear interest at a fixed annual rate of 6.750% and will mature on March 15, 2029. The offering is expected to close on March 1, 2024, subject to customary closing conditions.
The Company intends to use the net proceeds of the senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE:TGI) Product Support business (the "Triumph Product Support Acquisition").

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