Titan announces expiration, final results of tender offer

Jan. 1, 2020
Titan International, Inc. has announced that the tender offer for its 8 percent senior unsecured notes due 2012 expired on June 10.

Titan International, Inc. has announced that the tender offer for its 8 percent senior unsecured notes due 2012 expired on June 10.

As of the expiration time, according to information provided by the tender agent, $47,352,000 principal amount of the senior notes, representing 24.4 percent of the principal amount outstanding, had been validly tendered and not validly withdrawn, of which $46,352,000 aggregate principal amount, representing approximately 23.9 percent of the principal amount outstanding had been validly tendered on or before on May 26, 2010. All senior notes validly tendered and not validly withdrawn have been accepted for payment.

In connection with Titan’s previously announced early settlement election, Titan paid $1,050 per $1,000 principal amount of senior notes to holders, who tendered their senior notes prior to the early tender time on June 7, 2010. The total consideration included an early tender premium of $50 per $1,000 principal amount of senior notes. Holders of these senior notes also received accrued and unpaid interest up to but not including the settlement date of June 7, 2010.

Holders of the senior notes who validly tendered their senior notes after the early tender time, but on or prior to the expiration time, and did not validly withdraw such senior notes and which senior notes have been accepted for purchase, will receive the tender offer consideration of $1,000 per $1,000 principal amount of senior notes. There was $1,000,000 principal amount of senior notes tendered after the early tender time, but on or prior to the expiration time. Holders of the senior notes tendered after the early tender time will not receive the early tender premium.

On June 14, 2010, Titan paid the tender offer consideration and accrued and unpaid interest up to but not including the settlement date of June 14, 2010, to the holders of the senior notes, who tendered their senior notes after the early tender time but on or prior to the expiration time.

For more information, visit www.titan-intl.com.

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