Terex pays down $220 million under senior term loan due 2017

By Tali David

Minneapolis, May 16 - Terex Corp. repaid $220 million of its senior term bank debt due 2017, according to a press release.

"As previously communicated, we are focused on improving earnings and generating cash flow to facilitate debt reduction," chairman and CEO Ron DeFeo said in a news release.

"This latest pay down of debt demonstrates our continued commitment to improving our company's capital structure. An additional repayment of $30 million of debt will take place in July. Combined with our prior actions in 2012, this will result in approximately $500 million in debt reduction from the middle of 2012 through the middle of 2013."

The issuer is a Westport, Conn.-based diversified manufacturer.

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