Terex Files First Quarter 2006 10-Q, Redeems $100 Million of 10-3/8% Senior Subordinated Notes Due 2011

June 1, 2006 — Terex Corp., Westport, Conn., recently filed its quarterly report on Form 10-Q for the period ended March 31, 2006 with the Securities and Exchange Commission (SEC). With the completion of this filing, Terex is now current with all of its annual and quarterly periodic filings with the SEC. In addition, Terex will no longer be deemed a late filer by the New York Stock Exchange.

 

The company also announced it will redeem $100 million of its $300 million 10-3/8% Senior Subordinated Notes due 2011, effective June 30, 2006. As set forth in the indenture for the Notes, Terex will pay holders 105.188 percent of the principal amount plus accrued and unpaid interest of $25.65 per $1,000 principal amount at the redemption date. At March 31, 2006, the Notes being called represented $100 million of the Company's $1.1 billion of debt. The Notes were originally issued March 29, 2001. As previously stated, Terex plans to be in a position to redeem the remaining $200 million of the 10-3/8% Notes in the near future. The Bank of New York, trustee for the Notes, will act as the paying agent for the Company in connection with the redemption of the Notes.