Titan amends revolver, increasing size to $250 million

By Sara Rosenberg

New York, June 28 - Titan International Inc. amended its revolving credit facility Thursday, increasing availability to $250 million from $200 million, according to an 8-K filed with the Securities and Exchange Commission.

The amendment will become effective once the company completes its acquisition of the off-the-road tire manufacturing facility in Bryan, Ohio, from Continental Tire North America.

Borrowings under the revolver carry an interest rate of Libor plus 275 basis points.

LaSalle Bank is the agent on the deal.

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

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