New Issue: Terex $200 million notes due July 2011 yield 9¼%

By Paul A. Harris

St. Louis, Mo., Dec. 10 - Terex Corp. priced a drive-by offering of $200 million senior subordinated notes due July 15, 2011 Monday at par to yield 9¼%, according to a syndicate source.

Credit Suisse First Boston was bookrunner. Salomon Smith Barney was joint lead manager.

Issuer:	Terex Corp.
Amount:	$200 million
Maturity:	July 15, 2011
Type:	Senior subordinated notes
Bookrunner:	Credit Suisse First Boston
Co-manager:	Salomon Smith Barney
Coupon:	9¼%
Price:	Par
Yield:	9¼%
Spread:	415 basis points over the 5% Treasury due Aug. 2011
Call features:	Callable Jan. 15, 2007 at 104.625, then at 103.083, 101.542,
	declining to par on Jan. 15, 2010 and thereafter
Equity clawback:	Until Jan. 15, 2005 at 109.25% for up to 33.3%
Settlement date:	Dec. 17 (T+5)
Ratings:	Moody's: B2
	Standard & Poor's: B
Cusip:	880779AP8
End

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.