| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tutor Perini Corp. > News item |
Tutor Perini tallies tenders for $131.34 million 7 5/8% notes due 2018
By Susanna Moon
Chicago, April 18 – Tutor Perini Corp. accepted for purchase tenders for $131.34 million, or about 43.78%, of its $300 million principal amount of outstanding 7 5/8% senior notes due 2018.
Tutor expects to fund the offer using proceeds of its $500 million principal amount of 6 7/8% senior notes due 2025, which was priced at par on April 12, according to a company update on Tuesday.
As announced April 10, holders will receive $1,004 in cash per $1,000 principal amount of notes tendered by the end of the offer at 5 p.m. ET on April 17.
The company also will pay accrued interest to but excluding the settlement date of April 20.
The offer was contingent on the company receiving proceeds from debt financing to fund the repurchase, along with cash on hand and borrowings under its credit facilities.
Goldman Sachs & Co. (800 828-3182) is the dealer manager. D.F. King & Co., Inc. (800 714-3310, 212 269-5550, tpc@dfking.com or dfking.com/tpc) is the information agent and tender agent.
Tutor Perini is a Sylmar, Calif.-based civil and building construction company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.