Terex increased the size of the revolving credit facility under its credit agreement from $450 million to $600 million.
According to a related 8-K filing, Credit Suisse served as administrative agent for the transaction.
“Today’s increase in availability of our revolving credit facility makes our strong capital structure even stronger. Over the last 15 months the execution of our disciplined capital allocation strategy has resulted in Terex exceeding our free cash flow expectations, providing capital to reinvest back into our businesses and return capital to shareholders,” said John Sheehan, Terex senior vice president and chief financial officer.
Westport, CT-based Terex is a global manufacturer of lifting and material processing products and services.
