[8-K] Terex Corporation Reports Material Event
Terex Corporation amended its Amended and Restated Credit Agreement on August 12, 2025, reducing borrowing costs and changing borrower composition. U.S. dollar term loans will now carry interest at SOFR+1.75%, down from SOFR+2.00%, and the spread on the revolving loans was reduced by 12.5 to 25 basis points. The amendment also removes Terex International Financial Services Company Unlimited Company as a borrower and confirms UBS AG, Stamford Branch, as administrative and collateral agent.
The filing references the full amendment as Exhibit 10.1 and a company press release as Exhibit 99.1. These changes alter pricing and borrower obligations under the company’s existing credit facility but the amendment text should be reviewed for full terms and any related conditions.
Terex Corporation ha modificato il proprio Amended and Restated Credit Agreement il 12 agosto 2025, riducendo i costi di indebitamento e cambiando la composizione dei prenditori. I finanziamenti a termine in dollari statunitensi avranno ora un tasso d'interesse di SOFR+1.75% (precedentemente SOFR+2.00%) e lo spread sui prestiti revolving è stato ridotto di 12,5 a 25 punti base. L'emendamento elimina inoltre Terex International Financial Services Company Unlimited Company come prenditore e conferma UBS AG, Stamford Branch, come agente amministrativo e per le garanzie.
La documentazione cita l'emendamento completo come Exhibit 10.1 e un comunicato stampa della società come Exhibit 99.1. Queste modifiche incidono sui prezzi e sugli obblighi dei prenditori nell'ambito della linea di credito esistente; il testo integrale dell'emendamento va consultato per i termini completi e le eventuali condizioni correlate.
Terex Corporation enmendó su Amended and Restated Credit Agreement el 12 de agosto de 2025, reduciendo el coste del endeudamiento y cambiando la composición de los prestatarios. Los préstamos a plazo en dólares estadounidenses llevarán ahora un interés de SOFR+1.75% (antes SOFR+2.00%) y el margen de las líneas revolventes se redujo entre 12,5 y 25 puntos básicos. La enmienda también elimina a Terex International Financial Services Company Unlimited Company como prestatario y confirma a UBS AG, Stamford Branch, como agente administrativo y de garantías.
La presentación remite a la enmienda completa como Exhibit 10.1 y a una nota de prensa de la compañía como Exhibit 99.1. Estos cambios afectan a la fijación de precios y a las obligaciones de los prestatarios bajo la facilidad de crédito existente; conviene revisar el texto de la enmienda para conocer los términos completos y las condiciones relacionadas.
Terex Corporation는 2025년 8월 12일에 Amended and Restated Credit Agreement를 수정하여 차입 비용을 낮추고 차입자 구성을 변경했습니다. 미화 기한부 대출의 이율은 이제 SOFR+1.75%로 (기존 SOFR+2.00%) 인하되었고, 리볼빙 대출의 스프레드는 12.5~25 베이시스 포인트 축소되었습니다. 이 수정으로 Terex International Financial Services Company Unlimited Company는 차입자에서 제외되었으며 UBS AG, Stamford Branch는 관리 및 담보 에이전트로 확인되었습니다.
서류는 전체 수정안을 Exhibit 10.1로, 회사 보도자료를 Exhibit 99.1로 명시합니다. 이러한 변경은 기존 신용시설의 가격 및 차입자 의무에 영향을 미치므로, 전체 조건과 관련 조항을 확인하기 위해 수정안 전문을 검토해야 합니다.
Terex Corporation a modifié son Amended and Restated Credit Agreement le 12 août 2025, réduisant le coût de l'emprunt et modifiant la composition des emprunteurs. Les prêts à terme en dollars américains porteront désormais un intérêt de SOFR+1.75% au lieu de SOFR+2.00%, et la marge des lignes revolvantes a été réduite de 12,5 à 25 points de base. L'amendement supprime également Terex International Financial Services Company Unlimited Company en tant qu'emprunteur et confirme UBS AG, Stamford Branch, comme agent administratif et agent des garanties.
Le dossier renvoie à l'amendement complet sous Exhibit 10.1 et à un communiqué de presse de la société sous Exhibit 99.1. Ces changements modifient la tarification et les obligations des emprunteurs au titre de la facilité de crédit existante ; le texte intégral de l'amendement doit être consulté pour connaître les modalités complètes et les conditions éventuelles associées.
Terex Corporation hat seine Amended and Restated Credit Agreement am 12. August 2025 geändert, wodurch die Finanzierungskosten gesenkt und die Zusammensetzung der Kreditnehmer angepasst wurden. Die US-Dollar-Terminfinanzierungen werden nun mit SOFR+1.75% verzinst (zuvor SOFR+2.00%), und der Aufschlag für die revolvierenden Kredite wurde um 12,5 bis 25 Basispunkte reduziert. Die Änderung nimmt außerdem Terex International Financial Services Company Unlimited Company als Kreditnehmer heraus und bestätigt UBS AG, Stamford Branch, als Verwaltungs- und Sicherheitenagenten.
Die Einreichung verweist auf die vollständige Änderung als Exhibit 10.1 und auf eine Unternehmensmitteilung als Exhibit 99.1. Diese Anpassungen betreffen die Preisgestaltung und die Verpflichtungen der Kreditnehmer aus der bestehenden Kreditfazilität; für die vollständigen Bestimmungen und etwaige Bedingungen sollte der Wortlaut der Änderung geprüft werden.
- U.S. term loan pricing reduced from SOFR+2.00% to SOFR+1.75%, lowering interest expense on outstanding SOFR-linked term loans
- Revolving loan spreads lowered by 12.5 to 25 basis points, improving short-term borrowing costs
- Simplified borrower structure via removal of Terex International Financial Services Company Unlimited Company as a borrower
- None.
Insights
TL;DR: The amendment lowers Terex's borrowing cost via a 25 bps reduction on USD term loans and tighter revolver spreads.
The cut from SOFR+2.00% to SOFR+1.75% on U.S. dollar term loans is a clear reduction in the company’s variable interest margin, which will reduce future interest expense on outstanding term loans tied to SOFR. The additional 12.5–25 bps reduction on the revolver improves the marginal cost of short-term borrowings. The amendment’s removal of a named subsidiary as a borrower changes the credit party structure; the operational and collateral impacts require review of the full amendment in Exhibit 10.1.
TL;DR: Amendment alters borrower structure and administrative arrangements; materiality depends on the removed entity’s exposure.
The elimination of Terex International Financial Services Company Unlimited Company as a borrower is a material contractual change to the set of obligors under the credit agreement and may affect credit protections and collateral allocations. UBS AG remains administrative and collateral agent, and the full amendment (Exhibit 10.1) should be reviewed to assess covenant, guarantee, and security amendments that determine investor risk.
Terex Corporation ha modificato il proprio Amended and Restated Credit Agreement il 12 agosto 2025, riducendo i costi di indebitamento e cambiando la composizione dei prenditori. I finanziamenti a termine in dollari statunitensi avranno ora un tasso d'interesse di SOFR+1.75% (precedentemente SOFR+2.00%) e lo spread sui prestiti revolving è stato ridotto di 12,5 a 25 punti base. L'emendamento elimina inoltre Terex International Financial Services Company Unlimited Company come prenditore e conferma UBS AG, Stamford Branch, come agente amministrativo e per le garanzie.
La documentazione cita l'emendamento completo come Exhibit 10.1 e un comunicato stampa della società come Exhibit 99.1. Queste modifiche incidono sui prezzi e sugli obblighi dei prenditori nell'ambito della linea di credito esistente; il testo integrale dell'emendamento va consultato per i termini completi e le eventuali condizioni correlate.
Terex Corporation enmendó su Amended and Restated Credit Agreement el 12 de agosto de 2025, reduciendo el coste del endeudamiento y cambiando la composición de los prestatarios. Los préstamos a plazo en dólares estadounidenses llevarán ahora un interés de SOFR+1.75% (antes SOFR+2.00%) y el margen de las líneas revolventes se redujo entre 12,5 y 25 puntos básicos. La enmienda también elimina a Terex International Financial Services Company Unlimited Company como prestatario y confirma a UBS AG, Stamford Branch, como agente administrativo y de garantías.
La presentación remite a la enmienda completa como Exhibit 10.1 y a una nota de prensa de la compañía como Exhibit 99.1. Estos cambios afectan a la fijación de precios y a las obligaciones de los prestatarios bajo la facilidad de crédito existente; conviene revisar el texto de la enmienda para conocer los términos completos y las condiciones relacionadas.
Terex Corporation는 2025년 8월 12일에 Amended and Restated Credit Agreement를 수정하여 차입 비용을 낮추고 차입자 구성을 변경했습니다. 미화 기한부 대출의 이율은 이제 SOFR+1.75%로 (기존 SOFR+2.00%) 인하되었고, 리볼빙 대출의 스프레드는 12.5~25 베이시스 포인트 축소되었습니다. 이 수정으로 Terex International Financial Services Company Unlimited Company는 차입자에서 제외되었으며 UBS AG, Stamford Branch는 관리 및 담보 에이전트로 확인되었습니다.
서류는 전체 수정안을 Exhibit 10.1로, 회사 보도자료를 Exhibit 99.1로 명시합니다. 이러한 변경은 기존 신용시설의 가격 및 차입자 의무에 영향을 미치므로, 전체 조건과 관련 조항을 확인하기 위해 수정안 전문을 검토해야 합니다.
Terex Corporation a modifié son Amended and Restated Credit Agreement le 12 août 2025, réduisant le coût de l'emprunt et modifiant la composition des emprunteurs. Les prêts à terme en dollars américains porteront désormais un intérêt de SOFR+1.75% au lieu de SOFR+2.00%, et la marge des lignes revolvantes a été réduite de 12,5 à 25 points de base. L'amendement supprime également Terex International Financial Services Company Unlimited Company en tant qu'emprunteur et confirme UBS AG, Stamford Branch, comme agent administratif et agent des garanties.
Le dossier renvoie à l'amendement complet sous Exhibit 10.1 et à un communiqué de presse de la société sous Exhibit 99.1. Ces changements modifient la tarification et les obligations des emprunteurs au titre de la facilité de crédit existante ; le texte intégral de l'amendement doit être consulté pour connaître les modalités complètes et les conditions éventuelles associées.
Terex Corporation hat seine Amended and Restated Credit Agreement am 12. August 2025 geändert, wodurch die Finanzierungskosten gesenkt und die Zusammensetzung der Kreditnehmer angepasst wurden. Die US-Dollar-Terminfinanzierungen werden nun mit SOFR+1.75% verzinst (zuvor SOFR+2.00%), und der Aufschlag für die revolvierenden Kredite wurde um 12,5 bis 25 Basispunkte reduziert. Die Änderung nimmt außerdem Terex International Financial Services Company Unlimited Company als Kreditnehmer heraus und bestätigt UBS AG, Stamford Branch, als Verwaltungs- und Sicherheitenagenten.
Die Einreichung verweist auf die vollständige Änderung als Exhibit 10.1 und auf eine Unternehmensmitteilung als Exhibit 99.1. Diese Anpassungen betreffen die Preisgestaltung und die Verpflichtungen der Kreditnehmer aus der bestehenden Kreditfazilität; für die vollständigen Bestimmungen und etwaige Bedingungen sollte der Wortlaut der Änderung geprüft werden.
FAQ
What change did Terex (TEX) make to its term loan pricing?
How much were the revolver spreads reduced in Terex's credit amendment?
Which entity was removed as a borrower under Terex's amended credit agreement?
Who is the administrative and collateral agent named in the amendment?
Where can I find the full text of Terex's credit amendment?
