The offering of a total nominal amount of €250 million Guaranteed Notes due 2024, with a coupon of 2.375 per cent per annum, which will be issued by TITAN GLOBAL FINANCE PLC (the “Issuer”), a subsidiary of TITAN Cement Company S.A. (the “Company”) and guaranteed by the Company, was completed today.
The orders in the book exceeded the amount of €1.3 billion. The Closing Date has been set for November 16, 2017 and the Issuer on November 10, 2017 will make 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 notes will be used by the Issuer to purchase any or all of its outstanding 4.25 per cent Guaranteed Notes due July 2019 (the “2019 Notes”’) prior to maturity pursuant to the tender offer memorandum dated 6 November 2017, and for general corporate purposes, including repayment of bank and other commercial debt.
HSBC Bank plc and Société Générale acted as Joint Global Coordinators and Joint Active Bookrunners , ABN Amro Bank and Raiffeisen Bank International as Joint Bookrunners and Alpha Bank S.A., Eurobank Ergasias S.A., National Bank of Greece S.A. and Piraeus Bank S.A. acted as Co-Managers.