Titan to offer notes to institutional buyers

Tire Business staff report

Quincy, Illinois – Titan International Inc. plans to offer $75 million aggregate principal amount of its convertible senior subordinated notes due 2017 in a private offering to qualified institutional buyers.

Titan said it intends to use the proceeds from the offering for general corporate purposes, including financing potential future acquisitions and repayment of existing debt obligations.

The tyre and wheel maker said it expects to grant the initial purchasers an option to buy up to $11.25 million principal amount of additional notes, solely…

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