ATHENS: Greece's cement maker Titan said on Friday it was issuing bonds worth 300 million euros ($338 million) after increasing the offer due to high investor demand.
Orders for the notes due 2021 with a 3.50 percent coupon exceeded one billion euros, the company said, with international investment funds, foreign banks, insurance companies and pension funds wanting to take up the bonds, Titan added.
The issue was raised from 250 million euros.
Titan has said that proceeds from the sale will be used partly to buy back some or all of its outstanding notes due Jan. 2017 prior to maturity or once they mature.
The closing date has been set for June 17, 2016 and Titan has already made an application for the notes to be admitted to trading on the Global Exchange Market (GEM), the exchange-regulated market of the Irish Stock Exchange.
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