Titan International, Inc. (NYSE:TWI) has proposed a private placement offering. The offering is for $150 million of unsecured senior notes. The net proceeds of the offering will be used to fund the purchase of any and all of the company’s 8% senior unsecured notes due 2012. The proceeds will also be used to pay related fees and expenses in addition to general corporate purposes. More information about the offering can be found online at http://www.titan-intl.com/.
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Titan International, Inc. (Titan) through its subsidiaries, is engaged in the manufacturing of wheels and tires. Titan produces a range of specialty products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction and consumer markets. Titan’s earthmoving/ construction market includes wheels and tires supplied to the mining industry, while the consumer market includes products for all-terrain vehicles (ATVs) and recreational/utility trailers. The Company’s customers include AGCO Corporation, Caterpillar Inc., CNH Global N.V., Deere & Company and Kubota Corporation.
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