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Titan's Sale of 2023 Senior Secured Notes Ends

Posted on November 20, 2017

Titan International Inc. has closed its offering of $400 million aggregate principal amount of 6.500% Senior Secured Notes due 2023. The Notes were offered and sold in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States in compliance with Regulation S. 

Titan intends to use the net proceeds from the offering to finance the purchase of the company's 6.875% Senior Secured Notes due 2020 validly tendered pursuant to a tender offer and consent solicitation which it commenced on Nov. 3, 2017, and to pay all consent payments, accrued interest, costs and expenses associated therewith. (See "Titan Settles Tender Offer and Call for Redemption Early.") Titan intends to use any remaining net proceeds from the offering of the 2023 Notes for general corporate purposes, including the redemption, repurchase or other retirement of any remaining 2020 Notes.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the 2023 Notes. Any offers of the Notes will be made only by means of a private offering circular. The Notes have not been registered under the Securities Act and may not be offered or sold in the U.S. without registration or an applicable exemption from registration requirements.

Related Topics: Titan financials

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