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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) March 9, 1999
TEREX CORPORATION
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-10702 34-1531521
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
500 Post Road East, Suite 320, Westport, Connecticut 06880
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (203) 222-7170
NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On March 9, 1999, Terex Corporation completed a $100 million offering of 8-7/8%
Series C Senior Subordinated Notes Due 2008 pursuant to Rule 144A promulgated
under the Securities Act of 1933, as amended.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.
(c) Exhibits
99.1 Press Release dated March 9, 1999 regarding Terex Corporation's
announcement of the completion of a $100 million offering of 8-7/8% Series C
Senior Subordinated Notes Due 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 10, 1999
TEREX CORPORATION
By: /s/ Eric I Cohen
Eric I Cohen
Senior Vice President
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Exhibit 99.1
NEWS RELEASE NEWS RELEASE NEWS RELEASE
For information, contact: Jack Lascar, Vice President, (203) 222-5943
TEREX CORPORATION COMPLETES SALE OF
$100 MILLION OF SENIOR SUBORDINATED NOTES
WESTPORT, CT, March 10, 1999 - Terex Corporation (NYSE: TEX) today
announced the successful completion of the sale of $100,000,000 principal amount
of 8-7/8% Series C Senior Subordinated Notes Due 2008. Net proceeds from the
sale were $94.9 million. It is contemplated that the new notes will be exchanged
for a new series of 8-7/8% Senior Subordinated Notes Due 2008 which have been
registered under the Securities Act of 1933, as amended. The proceeds from the
issuance of the new notes will be used to repay a portion of the outstanding
indebtedness under Terex's credit facilities incurred primarily in connection
with Terex's 1998 acquisitions, thereby providing additional liquidity for
future acquisitions and other corporate purposes.
Terex Corporation offered the additional Senior Subordinated Notes
pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended
(the "Act"), and that were not registered under the Act. Accordingly, these
Senior Subordinated Notes will not be able to be offered or sold in the United
States absent registration under the Act or an applicable exemption from the
registration requirements. This press release does not constitute an offer to
sell, or the solicitation of an offer to buy, any securities of Terex
Corporation.
Terex Corporation is a diversified global manufacturer based in
Westport, Connecticut, with 1998 revenues of $1.2 billion. Terex is involved in
a broad range of construction and mining-related capital equipment operating in
two segments -- Terex Earthmoving and Terex Lifting. Terex Earthmoving
manufactures and sells heavy-duty off-road trucks and high-capacity surface
mining trucks under the brand names of Terex, Unit Rig and Payhauler, as well as
large hydraulic mining shovels under the brand name O&K. Terex Lifting
manufactures and sells telescopic mobile cranes, lattice boom cranes, tower
cranes, aerial work platforms, utility aerial devices, telescopic material
handlers, truck mounted cranes, and related products, under the brand names
Terex, Lorain, PPM, P&H, Marklift, Koehring, Bendini, Simon, RO, Telelect,
Square Shooter, Holland Lift, American, Italmacchine, Peiner and Comedil.
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