Titan Global Finance launches tender offer for 3½% notes due 2021

By Marisa Wong

Los Angeles, June 29 – Titan Global Finance plc said it is inviting holders of its €287.8 million outstanding 3½% guaranteed notes due June 17, 2021 (ISIN: XS1429814830) to tender any and all of their notes for purchase for cash.

Titan Global is offering to purchase the notes at €1,016 per €1,000 principal amount, according to a press release.

Holders must tender their notes by delivering electronic instructions to the tender agent by 11 a.m. ET on July 6.

Settlement is expected to be on July 9.

The tender offer is subject to a financing condition. The company said it intends to issue new euro-denominated senior notes guaranteed by parent company Titan Cement Co. SA and Titan Cement International SA, proceeds of which would be used to purchase the existing 2021 notes under the tender offer.

Noteholders who are eligible and wish to subscribe for the new notes in addition to tendering their existing notes may receive priority in the allocation of the new notes, subject to some conditions. Such noteholders would need to contact a dealer manager indicating their interest no later than 10 a.m. ET on July 1.

HSBC Bank plc (+44 20 7992 6237, LM_EMEA@HSBC.com), Societe Generale (+44 20 7676 7951, liability.management@sgcib.com) and Eurobank SA (+30 210 371 8996, lmg@eurobank.gr) are the dealer managers for the tender offer.

Lucid Issuer Services Ltd. (+44 20 7704 0880, attn.: Arlind Bytyqi, titan@lucid-is.com) is the tender agent.

Titan Cement is an Athens-based construction materials company. Subsidiary Titan Global Finance is a special purpose entity based in Hull, England.

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