Tutor Perini executed a refinancing and liquidity enhancement plan by issuing $400 million of 6.625% Senior Notes due 2033 and amending its revolving credit facility to $350 million with an extended 2031 maturity. Proceeds from the new notes, sold at par, are being used to redeem the company’s 11.875% 2029 notes, cutting interest expense. The amended revolver lowers pricing spreads tied to leverage and updates financial covenants, providing added flexibility and reduced borrowing costs.
Agreement 1: Tutor Perini Issues $400 Million 6.625% Senior Notes Due 2033 to Refinance Debt
- Agreement type: Senior notes offering and indenture (6.625% due 2033)
- Counterparty: Wilmington Trust, as trustee
- Signed / Effective: Jul 02 2026 / Jul 02 2026
- Duration / Termination: Until Jul 15 2033
- Reason: Refinance 2029 notes and reduce interest costs
Agreement 2: Tutor Perini Expands Revolving Credit Facility to $350 Million, Extends Maturity to 2031
- Agreement type: Amended and restated revolving credit facility
- Counterparty: BMO Bank, as administrative agent, and lenders
- Signed / Effective: Jul 02 2026 / Jul 02 2026
- Duration / Termination: Until Jul 02 2031
- Reason: Increase liquidity and lower borrowing costs
Original SEC Filing:
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