Terex Corporation Completes Note Redemption
WESTPORT, Conn.--(BUSINESS WIRE)-- Terex Corporation (NYS: TEX) today announced that it has completed its previously announced redemption of the approximately $120 million principal amount of its 8% Senior Notes due 2017 which remained outstanding. The total cash paid was $125.8 million, and included a call premium as set forth in the indenture of 4.00% plus accrued and unpaid interest of $9.111 per $1,000 principal amount at the redemption date. These notes were originally issued in November 2007.
As previously disclosed, on November 26, 2012, approximately $680 million in aggregate principal amount of the Notes were validly tendered and accepted for purchase by the Company.
HSBC Bank USA, National Association, trustee for the Notes, acted as the paying agent for the Company in connection with this redemption.
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.
Tom Gelston, 203-222-5943
Vice President, Investor Relations
KEYWORDS: United States North America Connecticut
The article Terex Corporation Completes Note Redemption originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.