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.firstname.lastname@example.org, 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.
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