================================================================================
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 14, 2001
TEREX CORPORATION
--------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Delaware 1-10702 34-1531521
--------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
500 Post Road East, Suite 320, Westport, Connecticut 06880
--------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (203) 222-7170
NOT APPLICABLE
--------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
================================================================================
Item 5. Other Events.
Terex Corporation ("Terex" or "the Company") announced by press release
on March 14, 2001 that it intends to issue approximately $200,000,000 principal
amount of Senior Subordinated Notes Due 2011 ("Notes") and increase the
availability under its existing $125 million Revolving Credit Facility maturing
March 2004 to $300 million. Terex also announced in that press release that it
is negotiating an amendment to its existing bank credit agreements to provide
the Company with greater operating flexibility. Terex intends to use the net
proceeds from the offering of the Notes to prepay a portion of its existing term
loans. The increase in the Revolving Credit Facility will allow Terex to reduce
the amount of cash balances and total debt it has been carrying on its balance
sheet.
It is intended that the Company will offer the Notes pursuant to Rule
144A promulgated under the Securities Act of 1933, as amended (the "Act"), and
that the Notes will not initially be registered under the Act. Accordingly, the
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.
There can be no assurances at this time as to whether the transactions
announced in the press release, or any other financing transaction, will occur,
or as to the timing or definitive terms of any such transaction.
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 15, 2001
TEREX CORPORATION
By: /s/ Eric I Cohen
Eric I Cohen
Senior Vice President
-2-