Terex Announces Re-Pricing of Term Loan
Rhea-AI Summary
Terex Corporation (NYSE:TEX) has successfully completed a re-pricing of its term loan, which is projected to result in annual cash interest savings of $3 million. The company's term loan rate has been reduced by 25 basis points to SOFR+175 basis points, enhancing the efficiency of its capital structure according to CFO Jennifer Kong-Picarello.
Positive
- Expected annual cash interest savings of $3 million
- Term loan rate improved by 25 basis points
- Enhanced capital structure efficiency
Negative
- None.
News Market Reaction
On the day this news was published, TEX gained 3.81%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"We are pleased to announce the re-pricing which increases the efficiency of our capital structure," said Jennifer Kong-Picarello, Terex Senior Vice President and Chief Financial Officer. "Our term loan rate will now be S+175bps, improving by 25bps what was already an attractive rate."
About Terex
Terex Corporation is a global industrial equipment manufacturer of materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment for the electric utility industry. We design, build, and support products used in maintenance, manufacturing, energy, minerals and materials management, construction, waste and recycling, and the entertainment industry. We provide best-in-class lifecycle support to our customers through our global parts and services organization, and offer complementary digital solutions, designed to help our customers maximize their return on their investment. Certain Terex products and solutions enable customers to reduce their impact on the environment including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in
Contact Information
Derek Everitt
VP Investor Relations
Email: InvestorRelations@Terex.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/terex-announces-re-pricing-of-term-loan-302525302.html
SOURCE Terex Corporation
FAQ
How much will Terex (NYSE:TEX) save annually from the term loan re-pricing?
What is Terex's new term loan rate after the August 2025 re-pricing?
Who announced Terex's term loan re-pricing in August 2025?
How much did Terex's term loan rate improve in the August 2025 re-pricing?
