QUINCY, Ill.—Titan International Inc. has closed its offering of $325 million aggregate principal amount of its 7.875 percent senior secured notes due 2017.
The notes were offered by the initial purchasers only to qualified institutional buyers and outside the U.S., Titan said. They were issued under the indenture, dated as of Oct. 1, 2010, pursuant to which the company previously issued $200 million aggregate principal amount of its 7.875 percent senior secured notes due 2017.
The company said it will use the proceeds from the offering to repay debt and for general corporate purposes.