Terex Announces Re-Pricing of Term Loan
August 17 2017 - 10:35AM
Business Wire
Terex Corporation (NYSE:TEX) today announced that it has
completed a re-pricing of its term loan that is expected to reduce
its cash interest costs by approximately $1 million annually.
“We are pleased to announce the re-pricing which further
increases the efficiency of our recent recapitalization,” said John
Sheehan, Terex Chief Financial Officer. “Our term loan rate will
now be L+225bps, improving by 25bps what was already the lowest
rate in the Company’s history.”
About Terex:
Terex Corporation is a global manufacturer of lifting and
material processing products and services that deliver lifecycle
solutions to maximize customer return on investment. The
Company reports in three business segments: Aerial Work Platforms,
Cranes, and Materials Processing. Terex delivers
lifecycle solutions to a broad range of industries, including the
construction, infrastructure, manufacturing, shipping,
transportation, refining, energy, utility, quarrying and mining
industries. Terex offers financial products and services
to assist in the acquisition of Terex equipment
through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170817005667/en/
Terex CorporationBrian J. Henry, 203-222-5954Senior Vice
PresidentBusiness Development & Investor
Relationsbrian.henry@terex.com
Terex (NYSE:TEX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Terex (NYSE:TEX)
Historical Stock Chart
From Apr 2023 to Apr 2024