TriMas Announces Pricing of $300 Million of Debt Offering

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BLOOMFIELD HILLS, Mich., Sept. 13, 2017 (GLOBE NEWSWIRE) -- TriMas (NASDAQ:TRS) today announced that it has priced its offering of $300 million in aggregate principal of senior unsecured notes due 2025 (the “Notes”) in an offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will bear interest at an annual rate of 4.875%. The offering of the Notes is expected to close on September 20, 2017, subject to the satisfaction of customary closing conditions.

TriMas intends to use the net proceeds from the Notes offering to repay all outstanding obligations (including accrued and unpaid interest thereon) of its Term Loan A facility due 2020 under TriMas’ amended and restated credit agreement, to repay a portion of outstanding obligations (including accrued and unpaid interest thereon) under TriMas’ accounts receivable facility, and to pay fees and expenses related to the Notes offering and repayment of such debt.

The Notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain persons outside of the United States pursuant to Regulation S under the Securities Act. The Notes to be offered have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy such Notes nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

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Globe Newswire: 00:04 GMT Thursday 14th September 2017

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