Titan International, Inc. Announces Call for Redemption of Its Senior Secured Notes Due 2023
April 07, 2021 at 07:58 am EDT
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Titan International, Inc. announced that, in accordance with the redemption provisions of the indenture governing its 6.50% Senior Secured Notes due 2023 (the "2023 Notes"), it has called for redemption all of the 2023 Notes. The call is conditional upon the closing of a new secured notes offering. The 2023 Notes will be redeemed on May 7, 2021, assuming satisfaction of the conditions set forth above. Pursuant to the indenture, the notes will be redeemed at 103.25% of the principal amount, plus accrued and unpaid interest to, but not including, the redemption date.
Titan International, Inc. is a global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The Company's segments include agricultural, earthmoving/construction and consumer. Its agricultural wheels, tires, and components are manufactured for use on various agricultural equipment. The earthmoving/construction segment manufactures wheels, tires, and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military, construction, and forestry equipment, including skid steers and aerial lifts. The consumer segment manufactures bias truck tires in Latin America and light truck tires in Russia. The Company also offers select products for ATVs, side-by-sides, rock climbers, turf, and lawn and garden. This segment also includes custom rubber stock mixing sales to a variety of OEMs in tangential industries. It manufactures and sells certain tires under the Goodyear Farm Tire, Titan Tire and Voltyre-Prom Tire brands.
TITAN INTERNATIONAL, INC. 
