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Tutor Perini Announces Proposed Offering of $400 Million of Senior Notes Due 2033

TPC
  • Tutor Perini Corporation is offering $400 million aggregate principal amount of senior notes due 2033 in a private offering.
  • The notes will be senior unsecured obligations guaranteed by wholly owned domestic subsidiaries that guarantee the company's revolving credit facility.
  • Net proceeds will be used to redeem $400 million of 11.875% Senior Notes due April 30, 2029, along with related premiums, accrued interest, fees, & expenses.
  • Unspent proceeds may be temporarily invested in cash, cash equivalents, or short-term marketable securities.
  • The offering is limited to qualified institutional buyers under Rule 144A & sold outside the United States under Regulation S.
  • The notes & guarantees are unregistered under the Securities Act & may not be offered or sold in the U.S. without registration or an applicable exemption.
  • This press release is not a redemption notice for the 2029 Notes nor an offer to sell the new notes.
  • Tutor Perini is a leading civil, building, & specialty construction firm providing services globally since 1894.
  • The company performs various project components including earthwork, excavation, concrete, steel erection, electrical, mechanical, plumbing, HVAC, & fire protection.
  • Forward-looking statements involve risks such as potential failure of the offering, litigation outcomes, contract disputes, economic factors, & regulatory changes.