Titan Looking to Buy Back Debt

Titan International has proposed offering some $150 million in unsecured notes to buy back its 8 per cent senior unsecured notes due 2012 and for “general corporate purposes.” The tender offer was effective 13 May and will remain open until 10 June Titan said in a statement issued 13 May 2010.

Holders of senior notes tendered and accepted for payment will receive $1,050 per $1,000 principal amount of the senior notes; those waiting until after the set period will receive $1,000 per $1,000 of the principal amount.

Goldman, Sachs & Co. is handling the transaction.

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