Titan to offer $200 million in senior notes
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."