WESTPORT, Conn.--(BUSINESS WIRE)--Nov. 7, 2012--
Terex Corporation (NYSE: TEX) today announced that it intends to offer,
subject to market and other conditions, U.S. Dollar denominated senior
notes maturing in May 2021. Terex intends to raise approximately $850
million from two separate financing transactions. The net proceeds of
the U.S. Dollar denominated offering together with other funds will be
used to finance the purchase of the Company’s outstanding 8% senior
subordinated notes due 2017. The Company intends to use any remaining
proceeds for general corporate purposes. This news release does not
constitute a notice of redemption or an obligation to issue a notice of
redemption.
Terex intends to offer and sell the U.S. Dollar denominated senior notes
under the Company's shelf registration statement filed with the
Securities and Exchange Commission on November 2, 2012.
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
Credit Suisse, Goldman, Sachs and Co., RBS and UBS Investment Bank will
act as the joint book-running managers of the offering.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities of Terex Corporation or
its subsidiaries, 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.
This press release contains forward-looking information based on the
current expectations of Terex. 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.
Source: Terex Corporation
Terex Corporation
Tom Gelston, 203-222-5943
Vice President,
Investor Relations
thomas.gelston@terex.com