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Titan to Issue $200 Million in Notes

(Akron/Tire Review) Titan International plans to offer some $200 million in unsecured notes and will use the proceeds to pay down debt and for general expenses.

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The company said the five-year unsecured notes will have an 8% annual interest rate, with Goldman Sachs & Co. handling the transaction.

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Net proceeds will repay approximately $180 million of outstanding existing debt, excluding the 5.25% senior unsecured convertible notes.

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