WESTPORT, Conn.--(BUSINESS WIRE)--Jan. 16, 2007--Terex Corporation
(NYSE: TEX) today announced that it has completed the previously
announced redemption of the $200 million principal amount of its
9-1/4% Senior Subordinated Notes due 2011, effective January 16, 2007.
The total cash paid was $218.5 million, and included a call premium of
4.625% as set forth in the indenture for these Notes plus accrued
interest of $46.25 per $1,000 principal amount at the redemption date.
At September 30, 2006, the Notes being called represented $200 million
of the Company's $791.7 million of debt. The 9-1/4% Notes were
originally issued December 17, 2001.
The Bank of New York, trustee for the Notes, acted as the paying
agent for the Company in connection with this redemption.
Terex Corporation is a diversified global manufacturer with 2005
revenue of $6.4 billion. Terex operates in five business segments:
Terex Construction, Terex Cranes, Terex Aerial Work Platforms, Terex
Materials Processing & Mining, and Terex Roadbuilding, Utility
Products and Other. Terex manufactures a broad range of equipment for
use in various industries, including the construction, infrastructure,
quarrying, mining, shipping, transportation, refining, and utility
industries. Terex offers a complete line of financial products and
services to assist in the acquisition of Terex equipment through Terex
Financial Services. More information on Terex can be found at
www.terex.com.
CONTACT: Terex Corporation
Tom Gelston, Director - Investor Relations
203-222-5943
SOURCE: Terex Corporation