Reuters has reported that Greek cement maker Titan is issuing bonds worth €300 million (US$338 million) after increasing the offer due to high investor demand.
Orders for the notes due 2021 with a 3.50% coupon exceeded one billion euros, with international investment funds, foreign banks, insurance companies and pension funds wanting to take up the bonds.
The issue was raised from €250 million.
Titan has announced that proceeds from the sale will be used partly to buy back some or all of its outstanding notes due January 2017 prior to maturity or once they mature.
WCT2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.
World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.
Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.
