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Terex to prepay $200 million of term debt with bond sale and cash on hand
By Sara Rosenberg
New York, Nov. 10 - Terex Corp. plans on prepaying $100 million of its existing term loans using proceeds from a proposed $300 million senior subordinated note offering. Furthermore, the company said it will prepay an additional $100 million in term loan debt with cash on hand.
The other $200 million of proceeds from the bond offering will be used to prepay all of the remaining $200 million 8.875% senior subordinated notes due 2008, according to a news release.
Terex is a Westport, Conn., diversified manufacturer involved in construction, infrastructure, recycling and mining-related capital equipment.
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