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TriMas Corporation Announces Plan To Refinance Debt Facilities

TriMas Corporation (NASDAQ: TRS) – a diversified global manufacturer of engineered and applied products – today announced that it is in the process of refinancing its existing credit facilities. The new credit facilities are expected to be comprised of a $475 million Senior Secured Revolving Credit facility and a $175 million Senior Secured Term Loan A facility. The company plans to close the transaction during the fourth quarter of 2013. J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and Wells Fargo Securities, LLC are arranging the financing.

Proceeds from the new Facilities are expected to be used to refinance the Company’s existing $250 million Senior Secured Revolving Credit Facility, $200 million Senior Secured Term Loan A and $200 million Senior Secured Term Loan B.

“Due to the strong credit markets and the Company’s continued financial performance, TriMas has a further opportunity to refinance our credit facilities with terms that are even more beneficial to the future of TriMas,” said Mark Zeffiro, TriMas’ executive vice president and chief financial officer. “We expect TriMas to benefit from immediate interest savings, extended maturities and the liquidity and capital structure flexibility needed to best position the Company for future growth.”

Cautionary Notice Regarding Forward-looking Statements

Any "forward-looking" statements contained herein, including those relating to market conditions or the Company's financial condition and results, expense reductions, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including, but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company's business and industry, the Company's leverage, liabilities imposed by the Company's debt instruments, market demand, competitive factors, supply constraints, material and energy costs, technology factors, litigation, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, and in the Company's Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

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