WESTPORT, Conn.--(BUSINESS WIRE)--Nov. 8, 2012--
Terex Corporation (NYSE: TEX) today announced that it priced $850
million in new financing, not including underwriting discounts and
commissions or other offering expenses. The $850 million principal
amount of Senior Notes due 2021 priced at 6.00% at an issue price of
100%.
The public offering is expected to close on November 26, 2012, subject
to customary closing conditions. The Company intends to use the net
proceeds of this offering together with other funds 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. The Company intends to offer and sell these
securities under the 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 Securities (USA) LLC, Attention: Prospectus Department, One
Madison Avenue, Floor 1B, New York, NY 10010, [email protected],
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 Securities (USA) LLC, Goldman, Sachs and Co., RBS
Securities Inc. and UBS Securities LLC will act as the joint
book-running managers of the offering. The Company will not be
undertaking a European capital markets transaction.
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.
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.
Source: Terex Corporation
Terex Corporation
Tom Gelston, 203-222-5943
Vice President,
Investor Relations
[email protected]