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July 14, 2004 02:00 AM

Titan to offer $100 million senior unsecured notes

Tire Business Staff
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    QUINCY, Ill. (July 14, 2004) — Titan International Inc. said it intends to offer $100 million principal amount of five-year senior unsecured notes that will be convertible—at any time—into shares of Titan's common stock.

    The interest rate, conversion price and offering price is yet to be determined. Titan also may sell up to $15 million principal amount of the notes upon exercise of an option granted to the initial purchasers.

    Titan said it intends to use proceeds from the offering—plus funds from a new $100 million revolving credit facility—to repay all amounts outstanding under the existing term loan and redeem the outstanding principal amount of its 8.75 percent senior subordinated notes due in 2007.

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    • News
      • OPINION
      • BUSINESS/FINANCIAL
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      • GOVERNMENT & LAW
      • Humanitarian Award
      • RETAIL TIRES
      • SERVICE ZONE
      • TIRE MAKERS
      • Best Places to Work
      • Mid-Year Report 2022
      • RUSSIA WAR IN UKRAINE
    • Aligning with ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
      • RUBBER NEWS EVENTS
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION