Titan Cement talks €250 million seven-year notes at 2 7/8% area

By Paul A. Harris

Portland, Ore., July 2 – Titan Cement International SA talked its €250 million offering of seven-year senior bullet notes (BB) to yield in the 2 7/8% area on Thursday, according to a market source.

Global coordinator HSBC will bill and deliver for the Regulation S offering. SG CIB and Citigroup are also global coordinators.

ABN Amro, BNP Paribas and Raiffeisen Bank International are joint bookrunners.

Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank are co-managers.

The issuing entity will be Titan Global Finance plc, a subsidiary of Titan Cement.

The Athens-based company plans to use the proceeds for general corporate purposes, including the tender offer for any or all of its 3½% senior notes due 2021.

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