06.11.2007

Terex to raise $500 million

Terex has announced that it intends to raise around $500 million through the issue of senior subordinated notes due in 2015 and 2017.

Terex says that it intends to use the net proceeds from the offering to pay down outstanding amounts under its revolving credit facility and for general corporate purposes, including acquisitions, capital expenditures, investments and the repurchase of its outstanding securities.

Terex intends to offer and sell the notes under the company's existing shelf registration statement filed with the Securities and Exchange Commission in July this year and amended in November.