Commercial Business Suppliers

Titan announces tender offer for notes

Order Reprints

Titan International Inc. has commenced a cash tender offer for any and all of its $139.9 million aggregate principal amount outstanding of 8% senior unsecured notes due 2012.

The offer will expire at midnight Eastern Time on Sept. 28, 2010, unless extended or terminated earlier. Holders must tender their notes and deliver their consents at or prior to 5 p.m. Eastern Time on Sept. 14, 2010.

Titan also has announced a concurrent consent solicitation for proposed amendments to the indenture under which the senior notes were issued.

Both the tender offer and consent solicitation are subject to the satisfaction or waiver of certain conditions. The total consideration for each $1,000 U.S. dollars principal amount of notes validly tendered and accepted for purchase pursuant to the tender offer will be an amount equal to $1,075 U.S. dollars, according to Titan officials.

Titan has named Goldman, Sachs & Co. the sole dealer manager and solicitation agent for the tender offer and consent solicitation.

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