TRIUMPH GROUP, INC. (NYSE:TGI) Files An 8-K Entry into a Material Definitive Agreement

Triumph Group, Inc. (the Company), substantially all of its
domestic subsidiaries, as co-borrowers and guarantors
(collectively, the Subsidiary Co-Borrowers), the lenders party
thereto and PNC Bank, National Association, as administrative
agent (the Administrative Agent), are party to that certain Third
Amended and Restated Credit Agreement, dated November 19, 2013
(as amended and otherwise modified immediately prior to the
Eighth Amendment (as defined below), the Existing Credit
Agreement), to which the lenders (i) made a $375 million term
loan to the Company and the Subsidiary Co-Borrowers on the
closing date and (ii) provided a $1 billion revolving line of
credit to which the Company and its Subsidiary Co-Borrowers may
borrow revolving credit loans and multicurrency swing loans
(subject to certain sublimits) and cause to be issued letters of
credit (subject to certain sublimits), in an aggregate principal
amount not to exceed $1 billion outstanding at any time.

On May 1, 2017, the Company entered into an Eighth Amendment to
the Third Amended and Restated Credit Agreement (the Eighth
Amendment Effective Date), among the Company, the Subsidiary
Co-Borrowers, the lenders party thereto and the Administrative
Agent (the Eighth Amendment, and the Existing Credit Agreement,
as amended by the Eighth Amendment, the Credit Agreement). The
Eighth Amendment amended the Existing Credit Agreement to, among
other things, (i) eliminate the total leverage ratio financial
covenant, (ii) increase the maximum permitted senior secured
leverage ratio financial covenant applicable to each fiscal
quarter, commencing with the fiscal quarter ended March 31, 2017,
and to revise the step-downs applicable to such financial
covenant, (iii) reduce the aggregate principal amount of
commitments under the revolving line of credit to $850.0 million
from $1 billion, (iv) modify the maturity date of the term loans
so that all of the term loans will mature on March 31, 2019, and
(v) establish a new higher pricing tier for the interest rate,
commitment fee and letter of credit fee pricing provisions and
provide that the highest pricing tier will apply until the
maximum senior secured leverage ratio financial covenant is 2.50
to 1.00 and the Company delivers a compliance certificate
demonstrating compliance with such financial covenant.

The Eighth Amendment also provides the Companys Vought Aircraft
Division (Triumph Aerostructures, LLC) and certain affiliated
entities (collectively, the Vought entities) with the option, if
necessary, to commence voluntary insolvency proceedings within 90
days of the Eighth Amendment Effective Date, subject to certain
conditions set forth in the Credit Agreement. Upon the
commencement of such proceedings, the Vought entities would no
longer be Subsidiary Co-Borrowers under the Credit Agreement, and
transactions between any of the Vought entities, on the one hand,
and the Company and any of the Subsidiary Co-Borrowers, on the
other hand, will be restricted.

The Company entered into the Eighth Amendment, among other
reasons, in order to provide the Vought entities with greater
financial flexibility to address their significant cash
utilization relative to certain contracts. The Company expects
that any actions it may take regarding the Vought entities will
improve the Companys credit profile and equity value. The Company
continues to execute its transformation strategy to strengthen
its operations, enhance its liquidity and drive profitable
growth.

The obligations under the Credit Agreement and related documents
continue to be secured by liens on substantially all of the
assets of the Company and its domestic subsidiaries to a Second
Amended and Restated Guarantee and Collateral Agreement, dated as
of November 19, 2013, among the Company, the domestic
subsidiaries of the Company party thereto and the Administrative
Agent, and certain other collateral documents.

The foregoing description of the Eighth Amendment and the Credit
Agreement is qualified in its entirety by reference to the actual
terms of the Eighth Amendment and the Credit Agreement. The
Eighth Amendment is attached as Exhibit 10.1 and is incorporated
by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.