Titan gets $150 million amended and restated revolver

By Sara Rosenberg

New York, Feb. 2 - Titan international Inc. closed on a $150 million amended and restated revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Bank of America acted as the lead arranger and administrative agent on the deal that was completed on Jan. 30.

The amendment and restatement extended the maturity to January 2012 from October 2009, created a $100 million accordion feature and revised pricing.

Pricing can range from Libor plus 200 basis points to 300 bps based on availability, with a 1.5% Libor floor.

Titan is a Quincy, Ill.-based manufacturer of wheels, tires, and assemblies for off-highway vehicles.

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