Terex extends revolver to 2023, waives covenants through year-end

By Wendy Van Sickle

Columbus, Ohio, April 23 – Terex Corp. amended its revolver, extending the expiration term to Jan. 31, 2023.

The amendment also waived financial covenants through Dec. 31, temporarily replacing them with a sliding scale minimum liquidity requirement during the waiver period, among other changes, according to a news release on Thursday.

As a result of the revolver amendment, Terex said it believes it will have increased access to the revolver, allowing it to maintain strong liquidity levels during 2020 and 2021.

The company has no meaningful corporate debt maturities until 2023.

Terex is a Westport, Conn.-based lifting and material handling solutions company.

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