Titan issues notes for general purposes, including bank debt repayment

Titan Global Finance plc, a subsidiary of Titan Cement International SA, is inviting holders of its 3.500 per cent guaranteed notes due June 2021, originally issued in an aggregate principal amount of EUR300m and of which EUR287m remains outstanding, to tender any or all of their notes for purchase by the offeror of cash. The offeror will pay a cash purchase price equal to EUR1016 per EUR1000 in principal amount of the notes validly tendered and accepted for purchase, plus any accrued and unpaid interest of the notes up to the payment date, expected to be around 9 July 2020.

Titan will use the proceeds of the issue to purchase notes accepted by the offeror and for general corporate purposes, including the repayment of bank debt. Eurobank SA, HSBC Bank and Société Générale have been appointed as dealer managers. Tender agent is Lucid Issuer Services Ltd.