Terex says investors tendered $2.42 million of 10 7/8%, 7 3/8% notes

By Devika Patel

Knoxville, Tenn., Nov. 5 - Terex Corp. said holders tendered $60,000 of the company's $300 million of 10 7/8% senior notes due 2016 and $2.359 million of its $300 million of 7 3/8% senior subordinated notes due 2014 as part of the company's tender offers for the notes.

The offer launched Oct. 5 and expired at 3 p.m. ET on Nov. 3.

The company will pay par plus interest up to, but excluding, the payment date.

The company is funding the offer with a portion of the proceeds from the sale of its mining business.

HSBC Bank USA (718 488-4475) was the depositary for the offers.

Terex is a Westport, Conn.-based diversified manufacturer.

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