Titan increases size of notes offering
Titan International Inc. has increased the size of its senior secured notes offering from $175 million to $200 million.
Notes will be sold at an offering price of 100% and will bear an interest rate of 7.875% per annum. Notes are only being offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the U.S. in compliance with Regulation S.
Titan intends to use the proceeds from the offering to finance the purchase of its 8% unsecured senior notes due 2012, among other functions.