| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Titan Cement Co. SA > News item |
Titan Cement subsidiary begins tender offer for €197 million 8¾% notes
By Angela McDaniels
Tacoma, Wash., June 6 – Titan Cement Co. SA subsidiary Titan Global Finance plc began a tender offer for its €197 million of outstanding 8¾% guaranteed notes due Jan. 19, 2017, according to a company announcement.
The issuer is offering €1,042.50 per €1,000 principal amount of notes plus accrued interest.
The tender offer will end at 11 a.m. ET on June 14. The payment date is expected to be no later than June 17.
Holders must tender at least €100,000 principal amount of notes in order to participate.
The issuer plans to issue at least €250 million of new fixed-rate guaranteed notes due 2021. The tender offer is subject to the successful pricing of the new notes.
The issuer intends to allocate no less than €100 million principal amount of the new notes to holders of 8¾% notes tendered in the offer. Noteholders who wish to participate in the new note allocation must contact a dealer manager no later than noon ET on June 9.
The dealer managers are Eurobank Ergasias SA (30 210 3718996 or lmg@eurobank.gr) and HSBC Bank plc (44 20 7992 6237 or liability.management@hsbcib.com). The tender agent is Lucid Issuer Services Ltd. (44 20 7704 0880 or titan@lucid-is.com).
Titan Cement is an Athens-based building materials company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.