Terex Corporation Announces Pricing of Capital Markets Transaction
23 March 2012 - 5:28AM
Business Wire
Terex Corporation (NYSE: TEX) today announced that it priced
$300 million in new financing, not including underwriting discounts
and commissions or other offering expenses. The $300 million
principal amount of Senior Unsecured Notes due 2020 priced at 6.5%
at an issue price of 100%.
The public offerings are expected to close on March 27, 2012,
subject to customary closing conditions. The company intends to use
the net proceeds of this offering for general corporate purposes
and in conjunction with the domination and integration process of
Demag Cranes AG. Terex intends to offer and sell these securities
under the Company's existing shelf registration statement filed
with the Securities and Exchange Commission in November 2010 and
amended on April 8, 2011.
When available, copies of the prospectus supplement and
accompanying base prospectus related to this offering may be
obtained from: Credit Suisse, Attention: Prospectus Department, One
Madison Avenue, Floor 1B, New York, NY 10010,
Newyork.prospectus@credit-suisse.com, 800-221-1037; Goldman, Sachs
& Co., DG3 / Diversified Global Graphics Group, 100 Burma Road,
Jersey City, NJ 07305, Attention: Prospectus Department,
212-902-1171; RBS Securities Inc., Attention: High Yield Debt
Capital Markets Syndicate, 600 Washington Boulevard, Stamford,
CT 06901, 866-884-2071; and UBS Securities LLC, Attention:
Prospectus Specialist, 299 Park Avenue, New York, NY 10171,
877-827-6444, ext. 561 3884.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities of Terex
Corporation, nor shall there be any sale of such securities in any
state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
Credit Suisse, Goldman, Sachs and Co., RBS and UBS Investment
Bank will act as the joint book-running managers of the
offerings.
This press release contains forward-looking information based on
the current expectations of Terex Corporation. Because
forward-looking statements involve risks and uncertainties, actual
results could differ materially. Actual events or the actual future
results of Terex may differ materially from any forward-looking
statement due to these and other risks, uncertainties and
significant factors. The forward-looking statements speak only as
of the date of this press release. Terex expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement included in this press
release to reflect any changes in expectations with regard thereto
or any changes in events, conditions, or circumstances on which any
such statement is based.
Terex Corporation is a diversified global manufacturer reporting
in five business segments: Aerial Work Platforms, Construction,
Cranes, Material Handling & Port Solutions and Materials
Processing. Terex manufactures a broad range of equipment for use
in various industries, including the construction, infrastructure,
quarrying, manufacturing, mining, shipping, transportation,
refining, energy and utility industries. Terex offers financial
products and services to assist in the acquisition of Terex
equipment through Terex Financial Services. Terex uses its website
to make information available to its investors and the market.
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