Titan Global Finance PLC (the “Offeror”), a subsidiary of Titan Cement Company S.A., announced today to the Luxembourg Stock Exchange an invitation to holders of its 4.25% guaranteed notes due July 2019 of principal amount €300,000,000 and outstanding principal amount €287,170,000 (the “Notes”) to tender any or all of their Notes for purchase by the Offeror before their maturity ( the “Offer”).
According to the Offer, the Offeror will pay a cash purchase price equal to € 1,060.50 per 1,000.00 in principal amount of the Notes validly tendered and accepted for purchase pursuant to the Offer plus any accrued and unpaid interest in respect of the Notes up to but not including the Payment Date, which is expected to be no later than 16 November 2017, unless otherwise extended, amended or terminated. by the Offerror. The Offer is also being made on the additional terms and subject to the conditions contained in the tender offer memorandum which will be available to the noteholders of the Notes.
The purchase of any Notes by the Offeror is subject to the successful pricing of the issue of new notes, which the Offeror intends to issue and which will be guaranteed by TITAN CEMENT Company S.A. of an amount of EUR 250,000,000 fixed -rate for seven years. With regard to the Offeror’s intention to issue new notes, a separate announcement will follow.
Eurobank Ergasias S.A. and HSBC Bank plc will act as Dealer Managers and Lucid Issuer Services Limited as the Tender Agent.