TITAN GLOBAL FINANCE PLC ( TGF) , a subsidiary of TΙΤΑΝ CEMENT COMPANY S.A., executed on January 5th, 2011 in London, UK, a new EUR 585,000,000 multicurrency forward start syndicated revolving credit facility, guaranteed by TITAN CEMENT COMPANY S.A. The new facility, which initially targeted the amount of EUR 500,000,000, will mature in January 2015 and will be used for refinancing TGF’s existing syndicated multicurrency revolving credit facility maturing in April 2012 and, thereafter, for general corporate purposes of the Group.
Τhe syndicate comprises Bank of America Merrill Lynch, HSBC Bank plc, BNP Paribas, National Bank of Greece, Emporiki Bank of Greece S.A. (a subsidiary of Credit Agricole), Sociéte Générale, Alpha Bank and EFG Eurobank.
Titan is an independent cement and building materials producer with over 100 years of industry experience. Based in Greece, the Group owns 14 cement plants in 9 countries and is organized in four geographic regions: Greece & Western Europe, USA, Southeastern Europe and Eastern Mediterranean. Throughout its history, Titan has aimed to combine operational excellence with respect for people, society and the environment.
In 2009, the Group sold over 16 m. tonnes of cement and cementitious materials, 4 m. m3 of ready mixed concrete, 15 m. tonnes of aggregates and various other building materials such as concrete blocks, dry mortars etc.