ADVFN - Advanced Financial Network.
HOME» NASDAQ » B » BUCY Stock Price » BUCY Stock News

Bucyrus Share News

 Bucyrus International (mm) Stock Price
BUCY Stock Price
 Bucyrus International (mm) Stock Chart
BUCY Stock Chart
 Bucyrus International (mm) Stock News
BUCY Stock News
 Bucyrus International (mm) Company Information
BUCY Company Information
 Bucyrus International (mm) Stock Trades
BUCY Stock Trades

Terex Announces $600 Million Debt Tender As Credit Line Amended

DOW JONES NEWSWIRES Terex Corp. (TEX) announced plans to repurchase up to $600 million of debt as it reached a deal with creditors allowing it to do so. The construction-machinery maker also said it will prepay about $270 million of loans under the credit facility with a portion of the proceeds from the sale of its mining business. Other proceeds from that sale will go to pay face value for up to $300 million each of 7 3/8% notes due 2014 and 10 7/8% notes due 2016. The company didn't say how much of the debt is outstanding and a spokesman wasn't immediately available for comment. Terex, which makes hydraulic excavators and tower cranes, sold its mining unit to Bucyrus International Inc. (BUCY) in February for $1 billion plus stock. If that money isn't used by early next year to purchase businesses, Terex's lenders have requested it go toward debt reduction. The company said the new amendment removes the previous $200 million annual limitation on acquisitions and offers added flexibility in other restrictive covenants. Last month, President and Chief Operating Officer Thomas Riordan said Terex is looking to buy public or private companies with annual sales between $500 million and $1 billion that don't depend on rental firms for distribution. Unlike most of its competitors, Terex lacks a network of independent retail dealers to buy and distribute its equipment. Instead, it sells most of its machinery to equipment-rental companies. In July, the company reported its second-quarter loss narrowed as it benefited from improved order activity across most product categories, although its cranes business continued to suffer. Shares recently traded at $24, up 4.4%, amid a general market rally. The stock is up 21% this year. -By Kathy Shwiff, Dow Jones Newswires; 212-416-2357;

Stock News for Bucyrus (BUCY)
06/08/201112:53:41Caterpillar Lifts Dividend 4.5% At About $52 Million Annual Cost
05/26/201116:30:02Caterpillar Avoids Issuing Shares for Bucyrus; Uses Cash
05/20/201119:58:26US Antitrust Regulators Clear Caterpillar Takeover Of Bucyrus
05/05/201103:49:41EU Clears Caterpillar To Buy US Mining Equipment Maker Bucyrus
04/29/201108:37:10Caterpillar 1Q Profit, Sales Surge; Results Top Views
04/20/201118:11:01Terex 1Q Profit Down 98% On Prior-Year Gain; Sales Jump
03/26/201113:26:13Terex Corp CEO Not Sold On Sale Prices For Companies
02/18/201104:33:25Bucyrus 4Q Net Profit Up 60% With Help From Acquisition
01/20/201107:06:09DOJ Seeks Information On Caterpillar's Proposed Bucyrus Buyout
12/30/201007:00:06Industrial Cos See Acquisitions As Hedge Against Slower '11 Growth
11/15/201017:21:03MARKET SNAPSHOT: U.S. Stocks Hit As Treasury Yields Rise
11/15/201015:32:51MARKET SNAPSHOT: U.S. Stocks Lifted By Retail Sales, Mergers
11/15/201013:03:36MARKET SNAPSHOT: U.S. Stocks Get A Lift From Retail Sales, Deals
11/15/201010:12:43MARKET SNAPSHOT: U.S. Stocks Lifted By Retail Sales, Irish Hopes
11/15/201008:34:36Caterpillar To Buy Mining-Equipment Company Bucyrus For $7.6...
10/05/201015:35:13Terex Announces $600 Million Debt Tender As Credit Line Amended
08/25/201015:12:34US Export-Import Bank Clears Loan To India Power Plant
07/14/201016:32:10Bucyrus Gets Ex-Im Bank's Support For India Coal Project
02/19/201019:52:29Terex Takes Leading Stake In Bucyrus After Equipment Sale
02/09/201012:23:07U.S. Industrials Looking Better To Morgan Stanley Analysts

Bucyrus and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations