Results of the cash tender offer by Titan Global Finance Plc
Titan Global Finance Plc (the “Offeror”), a subsidiary of Titan Cement International S.A. (the “Company”), announced the results of its invitation announced on 29 June 2020 to holders of its outstanding 3.500 per cent guaranteed notes due 2021 (the “Notes”) to tender their Notes for purchase by the Offeror for cash (the “Tender Offer”).
The purchase of the Notes by the Offeror is conditional upon the satisfaction of a financing condition, being the successful issue and offering of new euro-denominated senior notes, which will be unconditionally and irrevocably guaranteed by the Company, and, for so long as it remains a guarantor under the terms of the guarantee, Titan Cement Company S.A. The Offeror announces that the financing condition described in the Tender Offer Memorandum is expected to be satisfied.
€109,342,000 in aggregate principal amount of the Notes was validly tendered and not validly withdrawn pursuant to the Tender Offer. The Offeror has determined that it will accept for purchase all such Notes validly tendered.
Following settlement of the Tender Offer, €178,458,000 in aggregate principal amount of the Notes will remain outstanding.