|
|
Article: Terex to Redeem $100 Million of 10-3/8% Senior Subordinated Notes Due 2011.
- Article from:
- Business Wire
- Article date:
- May 31, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
WESTPORT, Conn. -- Terex Corporation (NYSE: TEX) today announced that it will redeem $100 million of its $300 million 10-3/8% Senior Subordinated Notes due 2011, effective June 30, 2006.
As set forth in the indenture for the Notes, Terex will pay holders 105.188 percent of the principal amount plus accrued and unpaid interest of $25.65 per $1,000 principal amount at the redemption date. At March 31, 2006, the Notes being called represented $100 million of the Company's $1.1 billion of debt. The Notes were originally issued March 29, 2001. As previously stated, Terex plans to be in a position to redeem the remaining $200 million of the 10-3/8% Notes in the near ...