WESTPORT, Conn.--(BUSINESS WIRE)--Mar. 22, 2012--
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.
Source: Terex Corporation
Terex Corporation
Tom Gelston, 203-222-5943
Vice President,
Investor Relations
thomas.gelston@terex.com