Terex to redeem $200 million 9¼% senior subordinated notes due 2011

By Lisa Kerner

Charlotte, N.C., Dec. 15 - Terex Corp. will redeem all $200 million principal amount outstanding of its 9¼% senior subordinated notes due 2011 on Jan. 15, according to a news release.

Noteholders will receive 104.625% of the principal amount plus accrued and unpaid interest up to the redemption date.

The notes to be redeemed are part of the company's $792 million of long-term debt.

Terex also announced it plans to purchase up to $200 million of its outstanding common shares through June 30, 2008.

Westport, Conn.-based Terex is a diversified global manufacturer of construction, mining, utility and other equipment.

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