The offering of a total nominal amount of €300 million Guaranteed Notes due 2021, with a coupon of 3.50%/yr, which will be issued by Titan Global Finance Plc and guaranteed by the company, has completed.
The orders in the book exceeded the amount of €1 billion. Due to high investor demand, the offering was upsized from €250 to €300 million. It should be noted that most investors in the offering include international investment funds, as well as foreign banks, insurance companies and pension funds.
The Closing Date has been set for 17 June 2016 and the Issuer has already made an application for the notes to be admitted to trading on the Global Exchange Market (GEM).
The proceeds of the notes will be used by the Issuer to purchase any or all of its outstanding 8.75% Guaranteed Notes due January 2017 prior to maturity pursuant to the tender offer memorandum, or at maturity in January 2017 and for general corporate purposes.
Edited from press release by Angharad Lock
Read the article online at: https://www.worldcement.com/europe-cis/13062016/titan-global-finance-offers-300-million-notes/