09:13 AM EDT, 09/30/2024 (MT Newswires) -- Terex ( TEX ) said Monday it intends to sell $750 million of senior notes due 2032 in a private offering.

The company said it plans to use the proceeds from the offering, together with new term loan borrowings and cash on hand, to complete its proposed acquisition of Dover's (DOV) subsidiaries and assets under Dover's Environmental Solutions Group, and to pay related costs.

Terex ( TEX ) also said that concurrently with the offering, it is seeking to amend its existing credit agreement to boost the size of its revolving credit facilities by $200 million to $800 million and extend the maturity to the fifth anniversary of the acquisition's completion.

The company added that it is also seeking a new term loan facility, which will mature on the seventh anniversary of the deal's completion and under which it expects to incur up to $1.25 billion in term loans.

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