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Titan Announces Tender Offer And Consent Solicitation For Its 7.875% Senior Secured Notes Due 2017

Stocks in this article: TWI

Titan International, Inc. (NYSE: TWI) announced today that it has commenced a cash tender offer for any and all of its $525,000,000 aggregate principal amount outstanding of 7.875% Senior Secured Notes due 2017 (CUSIP No. 88830MAF9, 888305AB5 and U8885EAC3 and ISIN No. US88830MAF95, US888305AB56 and USU8885EAC31) (the “Senior Notes”).

Titan also announced a concurrent consent solicitation for proposed amendments to, and consents under, the indenture under which the Senior Notes were issued. The tender offer and the consent solicitation are being made on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated September 23, 2013 (the “Offer to Purchase”), and the related Letter of Transmittal and Consent (“Letter of Transmittal”).

Holders that tender their Senior Notes in the tender offer will be deemed to have consented to the proposed amendments to the indenture governing such Senior Notes and to the release of the collateral securing the Senior Notes (the “Collateral”).

The tender offer will expire at 12:00 midnight New York City time on Monday, October 21, 2013, unless extended or earlier terminated (such date and time, as the same may be extended for such tender offer, the “Expiration Time”). In order to be eligible to receive the total consideration (as described below) for tendered Senior Notes, holders must validly tender their Senior Notes and deliver their consents at or prior to 5:00 p.m. New York City time on Friday, October 4, 2013, unless extended (such date and time with respect to the consent solicitation, the “Consent Deadline”).

The tender offer and consent solicitation are subject to the satisfaction or waiver of certain conditions as described in the Offer to Purchase, including the completion by Titan of new financings on terms reasonably satisfactory to Titan of at least $400,000,000.

The total consideration for each $1,000 US Dollars principal amount of Notes validly tendered and accepted for purchase pursuant to the tender offer will be an amount equal to $1,064.50 US Dollars, payable in cash to holders that validly tender their Senior Notes at or prior to the Consent Deadline, plus accrued interest.

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