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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 1, 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 1, 1999, Terex Corporation announced a $100 million offering of 8-7/8%
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 1, 1999 regarding Terex Corporation's
announcement of a $100 million offering of 8-7/8% 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 1, 1999
TEREX CORPORATION
By: /s/ Eric I Cohen
Eric I Cohen
Senior Vice President
General Counsel and Secretary
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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 ANNOUNCES INTENTION TO ISSUE
$100 MILLION OF SENIOR SUBORDINATED NOTES
WESTPORT, CT, March 1, 1999 - Terex Corporation (NYSE: TEX) today
announced that it intends to issue approximately $100,000,000 principal amount
of 8-7/8% Senior Subordinated Notes Due 2008. The new notes will have
substantially the same terms as Terex's currently outstanding $150 million
8-7/8% Senior Subordinated Notes Due 2008. It is contemplated that the new notes
will be combined with the currently outstanding notes into a single series after
completion of the offering. 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.
It is intended that Terex Corporation will offer the additional Senior
Subordinated Notes pursuant to Rule 144A promulgated under the Securities Act of
1933, as amended (the "Act"), and that they will not initially be 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. 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,
aerial work platforms, utility aerial devices, telescopic material handlers,
truck mounted cranes, tower 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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