Terex to redeem $100 million 10 3/8% notes due 2011

By Jennifer Chiou

New York, May 31 - Terex Corp. announced the redemption of $100 million of its $300 million of 10 3/8% senior subordinated notes due 2011 on June 30.

In line with the indenture, Terex will pay holders 105.188% of par plus accrued interest of $25.65 per $1,000 principal amount of notes at the redemption date.

The Bank of New York is the trustee and paying agent.

Based in Westport, Conn., Terex manufactures equipment for the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries.

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