Retail

Titan prices senior note offering at $200 million

Order Reprints

Titan International Inc. has priced its offering of $200 million aggregate principal amount of five-year senior unsecured notes.

"The $200 million of five-year senior unsecured notes will be sold

at par and will bear interest at a rate of 8% per annum," say Titan officials.

Goldman, Sachs & Co. was the sole bookrunning manager for the transaction.

Titan intends to use the net proceeds from this offering to repay approximately $180 million of outstanding existing debt, excluding the 5.25% senior unsecured convertible notes.

The company will use the remaining cash for "general corporate purposes."

Related Articles

How Chip Wood Built Tire Discounters’ Management Team

Blumenthal receives award for authoring standards

TIA Offers Training for Retail Store Leaders

You must login or register in order to post a comment.