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Titan Cement subsidiary plans €250 million fixed-rate notes due 2024
By Angela McDaniels
Tacoma, Wash., Nov. 6 – Titan Cement Co. SA subsidiary Titan Global Finance plc plans to issue at least €250 million of new fixed-rate senior notes due 2024, according to a company announcement.
The notes will be guaranteed by Titan Cement.
Titan Global Finance is holding a tender offer for its €287.17 million of outstanding 4¼% guaranteed notes due 2019. It plans to allocate at least €100 million principal amount of the new notes to holders of 4¼% notes purchased in the tender offer.
To be considered for participation in the new notes allocation, noteholders must contact a dealer manager no later than 10 a.m. ET on Nov. 8. The tender offer will end at 11 a.m. ET on Nov. 13.
The tender offer is conditioned on the successful pricing of the new notes.
The dealer managers of the tender offer are Eurobank Ergasias SA and HSBC Bank plc.
Titan Cement is an Athens-based building materials company.
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