It is hereby announced that an offering of €100,000,000 of additional notes (the “Additional Notes”) issued by TITAN GLOBAL FINANCE PLC (the “Issuer”), a subsidiary of TITAN Cement Company S.A. (the “Company”) was completed today. The Additional Notes will have the same terms and conditions as the €250,000,000 notes issued in November 2017 with a coupon of 2.375 per cent due 2024, guaranteed by the Company (the “Original Notes”). Upon completion of the issue, the Additional Notes will be treated as a single series with the Original Notes.
The orders in the book exceeded the initial offering by more than three times. Due to high investor demand, the offering was upsized from €50,000,000 to €100,000,000. The new notes were issued at par.
The Closing Date has been set for January 26, 2018 and the Issuer has made an application for the notes to be admitted to trading on the Global Exchange Market (GEM), which is the exchange-regulated market of the Irish Stock Exchange.
The proceeds of the Additional Notes will be used for general corporate purposes, including repayment of bank and other debt.
HSBC Bank plc, Société Générale, National Bank of Greece of Greece S.A., and Raiffeisen Bank International AG acted as Managers in respect of the issuance of the Additional Notes.