Titan reports settlement of tender offer
Titan International Inc. has announced the early settlement date for its previously announced tender offer to buy any and all of its outstanding 8% Senior Unsecured Notes due 2012.
At end of business on June 3, approximately $46,352,000 principal amount of the notes, representing 23.9% of the principal amount outstanding, had been validly tendered and not validly withdrawn. Titan has accepted for purchase all such Senior Notes. Holders of those notes will receive $1,050 per $1,000 principl amount, plus any accrued and unpaid interest up to, but not including, the early settlement date.
The offer expires at midnight on June 10, unless extended. It is subject to the satisfaction or waiver of certain conditions. Titan may amend, extend or terminate the offer.