03.06.2009

Terex completes financing

Terex has announced that it has completed its latest round of financing, raising around $612 million.

As planned it placed $300 million of 10.875 percent senior notes with a due date of 2016.

- Plus $172.5 million of four percent convertible senior subordinated notes with a due date of 2015. The underwriters also took up the option to purchase the additional $22.5 million of convertible notes to cover any over-allotments in excess of the original $150 million.

- Finally the company also placed 12.65 million of its shares at $13.00 per share to the public. Once again the underwriters took up the full option to purchase an additional 1.65 million shares to cover any over-allotments in excess of the original 11 million shares.

As a result the completion of these capital markets transactions, the previously announced amendment to Terex’s bank credit facility has been confirmed.