Terex Corporation Announces Pricing of Private Offering of $750 Million of 6 . 250 % Senior Notes Due 2032

Terex Corporation, a global manufacturer of materials processing machinery and aerial work platforms, has priced its private offering of $750 million in 6.250% senior notes due 2032 at par. The proceeds from this offering, along with new term loan borrowings and cash on hand, will be used to complete the acquisition of Dover Corporation s Environmental Solutions Group (ESG) subsidiaries and assets. The Notes and related guarantees will be offered to qualified institutional buyers and certain non-U.S. persons in transactions outside the U.S. under Rule 144A and Regulation S. The expected closing date for the Private Offering is October 8, 2024. Concurrently, Terex plans to amend its existing credit agreement to increase its revolving credit facilities to $800 million and extend the maturity to the fifth anniversary of the Acquisition. A new term loan facility will also be established, maturing on the seventh anniversary of the Acquisition, with an anticipated total borrowing amount of up to $1,250 million. This press release contains forward-looking statements about future events and financial performance, subject to risks and uncertainties. Terex s actual results may differ materially from these statements due to various factors, including the consummation of the Private Offering, Acquisition, and Amendment. About Terex: Terex is a global manufacturer of materials processing machinery and aerial work platforms, serving industries such as maintenance, manufacturing, energy, recycling, minerals, and construction. The company offers products and solutions that help customers reduce their environmental impact, including electric and hybrid offerings, products supporting renewable energy, and products aiding in waste material recovery. Terex products are manufactured in North America, Europe, Australia, and Asia and sold worldwide. Contact Information: Derek Everitt VP Investor Relations Email: [email protected] Source: Terex Corporation News published on September 30, 2024.

Source: lelezard.com
Published on 2024-09-30