Titan International announced the completion of an amendment to its domestic credit facility. On October 28, 2021, the Company amended and extended the Credit and Security Agreement, dated as of February 17, 2017 (as amended) with respect to the $100 million revolving credit facility with agent BMO Harris Bank and other financial institutions. The Credit Facility was increased to $125 million with the amount available under the Credit Facility determined based upon eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. The amended Credit Facility has a five-year term with the new maturity occurring on October 28, 2026. The amended Credit Facility can be expanded by up to $50 million through an accordion provision within the Agreement. The amended Agreement has terms substantially similar to those contained in the Agreement prior to the amendment earlier this year in February and also includes other enhancements to further improve the availability within the borrowing base.

David Martin, Senior Vice President and Chief Financial Officer commented "The increase of our domestic credit facility to $125 million along with the new five-year maturity to 2026 provides the flexibility we need to support the business dynamics we have experienced this year and the growth we anticipate moving forward into 2022 and beyond. We appreciate the support from our banking partners and we are pleased to have this foundation in place for the next five years."