Terex Completes $300M Note Redemption

Terex Corporation

today announced that it has completed the previously announced redemption of the approximately $300 million principal amount outstanding of its 10-7/8% Senior Notes due 2016, effective September 28, 2012. The total cash paid was $347.3 million, and included a make whole call premium as set forth in the indenture of 12.27% plus accrued and unpaid interest of $35.34 per $1,000 principal amount at the redemption date. These notes were originally issued in May 2009. As previously disclosed, during the third quarter of 2012, the Company also purchased 25% of the principal amount outstanding of its 4% Convertible Notes. Phil Widman, Senior Vice President and Chief Financial Officer indicated, “These actions reflect our continuing focus on cash generation to improve our capital structure and financial performance.”