Titan Global Finance Plc, a subsidiary of Titan Cement SA, on Tuesday announced a bond repurchase plan, while adding that it will also issue new guaranteed bonds worth 250 million euros for the repurchase of existing bonds.
Titan Global Finance Plc will seek to repurchase its bonds issued in December 2012, worth 200 million euros, by paying a coupon of 8.75 percent, and with a mature date of 2017.
Therefore, Titan Global Finance Plc will issue the new five-year bond loan worth 250 million, which will be guaranteed by Titan Cement SA. The bond will be listed on the Irish Stock Exchange.
