Terex Corporation announced the successful completion of a re-pricing of its term loan. This financial maneuver is expected to reduce the company's cash interest costs by approximately $3 million annually, enhancing its financial efficiency.
The new term loan rate is now S+175bps, representing an improvement of 25bps from the previous rate. This adjustment reflects Terex's efforts to optimize its capital structure and manage its debt obligations more effectively.
Jennifer Kong-Picarello, Terex Senior Vice President and Chief Financial Officer, stated that the re-pricing increases the efficiency of the company's capital structure. This move is a tangible step in managing financial expenses and improving overall profitability.
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