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Titan International investors tender $47.35 million in 8% senior notes
By Devika Patel
Knoxville, Tenn., June 11 - Titan International, Inc. announced it completed a tender offer for all of its outstanding 8% senior unsecured notes due 2012.
The company accepted all $47,352,000 of the tendered notes, 24.4% of the total outstanding.
The tender offer expired at midnight ET on June 10. It was launched on May 13.
As of the early tender deadline of 5 p.m. ET on May 26, holders had tendered $46.35 million, or 23.9%, of the notes.
Holders who tendered by the early deadline will receive $1,050 per $1,000 of notes, plus interest up to, but not including, the settlement date. Holders who tendered after the early tender time but before the expiration time will receive par plus interest up to the settlement date.
Goldman, Sachs & Co. (800 828-3182) was the sole dealer manager for the offer. Global Bondholder Services Corp. (866 470-4300) was the information agent.
Titan is a Quincy, Ill.-based maker of wheels, tires and assemblies for off-highway vehicles, including tractors and combines.
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