Titan raises EUR200m in bond issue

Greece-based cement producer Titan Cement Co on Thursday successfully concluded a EUR200m bond issue.

The new four-year corporate bond (arranged by Eurobank Ergasias SA, Alpha Bank AS and Credit Suisse) matures in January 2017 and has an 8.75 per cent coupon.

Part of the proceeds will be used to repay a previous bond maturing later this year, Eurobank said in a statement, adding that the issue was 2.9 times oversubscribed, with considerable interest from large private banking clients as well as institutional investors.

Titan is the first Greek company to tap the corporate bonds market since the sovereign debt crisis erupted three years ago.