30.08.2012

Terex to redeem long term notes

Terex is to redeem $300 million worth of senior notes due to mature in 2016.
The notes, issued in May 2009 bear an interest rate of 10-7/8 percent.

Terex says that the decision is part of its strategy cut interest expense to improve earnings and generate cash flow to reduce its overall debt level and improve the company's capital structure.