TEREX CORPORATION (NYSE:TEX) Files An 8-K Termination of a Material Definitive AgreementItem 1.02. Termination of a Material Definitive Agreement.
TEREX CORPORATION (NYSE:TEX) Files An 8-K Termination of a Material Definitive Agreement
to its previously announced plans, on February 15, 2017, Terex Corporation (“Terex” or the “Company”) redeemed the remaining $172.5 million principal amount outstanding of its 6% Senior Notes due 2021 (the “Notes”). The total cash paid to redeem the Notes was $180.3 million, which included a call premium of $5.2 million and accrued and unpaid interest of $2.6 million. HSBC Bank USA, National Association (“HSBC”), trustee under the indenture for the Notes, acted as the paying agent for the Company in connection with this redemption. The Company utilized cash on hand, including proceeds from issuance on January 31, 2017 of its 5.625% Senior Notes due 2025 for the redemption of the Notes. As previously disclosed, $377.5 million in aggregate principal amount of the Notes were validly tendered and accepted for purchase by the Company on January 30, 2017 and $300 million of the Notes were redeemed on February 3, 2017.
As a result of redemption of the Notes, the related supplemental indentures dated as of November 26, 2012 and September 8, 2015 by and among Terex, the subsidiary guarantors named therein and HSBC as trustee, terminated automatically as of February 15, 2017.
HSBC may, from time to time, be a party to other agreements with the Company and its subsidiaries, including the provision of commercial banking, investment banking, trustee and/or other financial services in the ordinary course of business of the Company and its subsidiaries.
Item 8.01. Other Events.
Terex issued a press release on February 15, 2017, announcing the completion of the sale of 7.45 million shares of Konecranes Plc at a price of EUR 34.50 per share. A copy of this press release is included as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release of Terex Corporation issued on February 15, 2017.
About TEREX CORPORATION (NYSE:TEX)
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries. The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers and light towers. The AWP segment’s products are used by its customers to construct and maintain industrial, commercial and residential buildings and facilities, and for other commercial operations, as well as in a range of infrastructure projects. The Cranes segment’s products are used by its customers for construction and manufacturing facilities, among others. The MP segment’s products are used by its customers in construction, infrastructure and recycling projects. TEREX CORPORATION (NYSE:TEX) Recent Trading Information
TEREX CORPORATION (NYSE:TEX) closed its last trading session up +0.15 at 32.15 with 1,098,164 shares trading hands.
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries. The AWP segment designs, manufactures, services and markets aerial work platform equipment, telehandlers and light towers. The AWP segment’s products are used by its customers to construct and maintain industrial, commercial and residential buildings and facilities, and for other commercial operations, as well as in a range of infrastructure projects. The Cranes segment’s products are used by its customers for construction and manufacturing facilities, among others. The MP segment’s products are used by its customers in construction, infrastructure and recycling projects. TEREX CORPORATION (NYSE:TEX) Recent Trading Information
TEREX CORPORATION (NYSE:TEX) closed its last trading session up +0.15 at 32.15 with 1,098,164 shares trading hands.