Loan & DebtJul 6, 2026, 09:11 AM
Tutor Perini Issues $400M Senior Notes at 6.625% to Refinance Debt
AI Summary
Tutor Perini Corporation completed an offering of $400 million in 6.625% Senior Notes due 2033. The company will use the net proceeds, along with cash on hand, to redeem $400 million aggregate principal amount of its existing 11.875% Senior Notes due 2029, effectively refinancing higher-interest debt. Concurrently, the company also entered into an Amended and Restated Credit Agreement.
Key Highlights
- Issued $400 million in aggregate principal amount of 6.625% Senior Notes due 2033.
- Notes mature on July 15, 2033, with interest payable semi-annually.
- Proceeds used to redeem $400 million of 11.875% Senior Notes due 2029.
- Notes were offered to qualified institutional buyers under Rule 144A.
- Company entered into an Amended and Restated Credit Agreement on July 2, 2026.
Price Impact
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