Terex amends credit agreement to replace LIBOR with Term SOFR

TEREX CORP

Amendment No. 1, dated May 8, 2023, replaces Adjusted LIBO Rate with Term SOFR in the credit agreement.
All existing lenders consented; covenant levels, maturity, and borrowing capacity unchanged.
Existing LIBOR loans continue until their current interest period ends; no new LIBOR loans permitted thereafter.
Amendment effective May 8, 2023; no other material terms of the credit agreement were modified.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TEREX CORP amended Amendment No. 1 to Amended and Restated Credit Agreement with the lenders and issuing banks party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent (effective 2023-05-08).

Action: amendment
Agreement: credit facility
Counterparty: the lenders and issuing banks party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent
Effective: 2023-05-08

Exact text from the filing

On May 8, 2023, Terex Corporation (“Terex” or the “Company”) and certain of its subsidiaries entered into an Amendment No. 1 (“Amendment”) to the Amended and Restated Credit Agreement dated as of April 1, 2021 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) , with the lenders and issuing banks party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent (“CSAG”).

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Source: SEC EDGAR

accession 0000097216-23-000143

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