Terex Corporation’s $2.8 Billion of Credit Facilities and High‑Yield Notes in Connection with its Acquisition of Dover Corporation’s Environmental Solutions Group

Cravath represented the lead arrangers in connection with $2.05 billion of senior secured credit facilities made available to Terex Corporation in connection with its acquisition of Dover Corporation's Environmental Solutions Group. The credit facilities consisted of a $1.25 billion term loan "B" facility and a $800 million revolving credit facility. Cravath also represented the initial purchasers in connection with a related $750 million high-yield senior notes offering by Terex Corporation under Rule 144A and Reg S. The transactions closed on October 8, 2024.

Terex Corporation is a leading global manufacturer of aerial work platforms and materials processing machinery.

The Cravath team included partners Joseph D. Zavaglia, Matthew M. Kelly, Douglas C. Dolan and Kelly M. Smercina, of counsel Sarah F. Rosen and associates Nadia T. Odai-Afotey, Ori Oren, Danielle N. Walling, Steven T. Marzagalli, Kiyon Hahm and David M. Bales on capital markets and banking matters; associate Celine Li on executive compensation and benefits matters; partner Andrew T. Davis and associate Eduardo D. Jacobo on tax matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; and practice area attorneys Brian M. Budnick and Lauren Piechocki on real estate matters. Benjamin Meyer also worked on capital markets matters.