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Titan to offer $200 million in senior notes

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Titan International Inc. will commence an offering of $200 million aggregrate principal amount of five-year senior notes.

"The notes will be senior unsecured obligations of the company," say Titan officials.

Titan intends to use the net proceeds from the offering to repay $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."

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