Terex Corporation (“Terex” or the “Company”) (NYSE: TEX) today announced that it will commence a tender offer (the “Tender Offer”) to purchase for cash any and all of its outstanding 8% senior subordinated notes due 2017 (the “Notes”). In conjunction with the Tender Offer, Terex is soliciting (the “Solicitation”) consents (the “Consents”) to certain proposed amendments to the indenture governing the Notes (as amended and supplemented from time to time, the “Indenture”) to eliminate most of the covenants, certain events of default applicable to the Notes and certain other provisions contained in the Indenture (the “Proposed Amendments”).
The following table summarizes the material pricing terms for the Tender Offer and Solicitation for each $1,000 principal amount of Notes:
|Outstanding Principal Amount||
Title of Security
|Consent Expiration||Tender Offer Consideration*||Consent Payment||Total Consideration*|
8% SeniorSubordinatedNotes due2017
* Plus accrued and unpaid interest from the last interest payment date up to, but not including, the applicable settlement date.
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