Loan & DebtJun 22, 2026, 07:56 AM
Tutor Perini to Offer $400M Senior Notes, Refinance Debt
AI Summary
Tutor Perini Corporation announced a proposed private offering of $400 million in senior notes due 2033. The company plans to use the proceeds, along with cash on hand, to redeem its existing $400 million 11.875% Senior Notes due April 30, 2029. Concurrently, Tutor Perini expects to amend and restate its credit agreement, extending the maturity of its Revolving Credit Facility and increasing its commitments from $170.0 million to $350.0 million.
Key Highlights
- Commenced proposed private offering of $400 million aggregate principal amount of senior notes due 2033.
- Intends to use net proceeds to redeem $400 million of 11.875% Senior Notes due April 30, 2029.
- Expects to amend and restate its existing credit agreement.
- Extending maturity of Revolving Credit Facility to the fifth anniversary of effectiveness.
- Increasing Revolving Credit Facility commitments from $170.0 million to $350.0 million.
Price Impact
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