Fluor Prices $500 Million Public Offering of Senior Unsecured Notes
November 18 2014 - 5:48PM
Business Wire
Fluor Corporation (NYSE: FLR) announced today that it has priced
its previously announced offering of senior unsecured notes in the
form of a registered public offering of $500 million aggregate
principal amount of 3.500% senior unsecured notes maturing in 2024.
The net proceeds of this offering will be used for general
corporate purposes, including share repurchases. Fluor expects to
close the offering on November 25, 2014, subject to customary
closing conditions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and BNP
Paribas Securities Corp. acted as joint book-running managers for
this offering along with several senior co-managers and
co-managers.
The senior unsecured notes offering is being made pursuant to an
effective shelf registration statement (including a base
prospectus) that the Company has on file with the Securities and
Exchange Commission (“SEC”). The offering may be made only by means
of a prospectus supplement and the base prospectus. A copy of the
prospectus supplement and the base prospectus relating to this
offering, when available, may be obtained by contacting Merrill
Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322 or
dg.prospectus_requests@baml.com, by contacting BNP Paribas
Securities Corp. at 1-800-854-5674, or by visiting the SEC website
at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes or any other securities,
nor shall there be any sale of the notes or any other securities in
any state or jurisdiction in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering and
construction firm that designs and builds some of the world's most
complex projects. The company creates and delivers innovative
solutions for its clients in engineering, procurement, fabrication,
construction, maintenance and project management on a global basis.
For more than a century, Fluor has served clients in the energy,
chemicals, government, industrial, infrastructure, mining and power
market sectors. Headquartered in Irving, Texas, Fluor ranks 109 on
the FORTUNE 500 list. With more than 40,000 employees worldwide,
the company's revenue for 2013 was $27.4 billion.
Forward-Looking Statements: This
release may contain forward-looking statements (including without
limitation statements to the effect that the Company or its
management "believes," "expects," "anticipates," "plans" or other
similar expressions). These forward-looking statements, including
statements relating to the notes offering and the use of proceeds
of the notes offering, are based on current management expectations
and involve risks and uncertainties. Actual results may differ
materially as a result of a number of factors, including, among
other things, difficulties or delays incurred in the execution of
contracts, resulting in cost overruns or liabilities, including
those caused by the performance of the Company’s clients,
subcontractors, suppliers and joint venture or teaming partners;
intense competition in the global engineering, procurement and
construction industry, which can place downward pressure on the
Company’s contract prices and profit margins; the Company's failure
to receive anticipated new contract awards and the related impacts
on revenues, earnings, staffing levels and costs; the cyclical
nature of many of the markets the Company serves, including the
Company’s commodity-based business lines, and the Company’s
vulnerability to downturns; failure to obtain favorable results in
existing or future litigation or dispute resolution proceedings;
current economic conditions affecting our clients, partners,
subcontractors and suppliers, which may result in decreased capital
investment or expenditures by the Company’s clients or may increase
costs or delay project schedules; client cancellations of, or scope
adjustments to, existing contracts, and the related impacts on
staffing levels and cost; foreign economic and political
uncertainties that could lead to project disruptions, increased
costs and potential losses; international security risks; delays or
defaults in client payments; failure to meet timely completion or
performance standards that could result in higher costs, reduced
profits or, in some cases, losses on projects; liabilities arising
from faulty services; the impact of anti-bribery and international
trade laws and regulations; risks or uncertainties associated with
events outside of our control, such as the effects of severe
weather, which may result in project delays, increased costs,
liabilities or losses on projects; the potential impact of certain
tax matters including, but not limited to, those from foreign
operations and ongoing audits by tax authorities; possible
information technology interruptions or inability to protect
intellectual property; foreign exchange risks; failure to maintain
safe worksites; the impact of environmental, health and safety
regulations or other laws; possible limitations on bonding or
letter of credit capacity; the Company’s ability to secure
appropriate insurance; the availability of credit and restrictions
imposed by credit facilities, both for the Company and our clients,
suppliers, subcontractors or other partners; and risks or
uncertainties associated with acquisitions, dispositions and
investments. Caution must be exercised in relying on these and
other forward-looking statements. Due to known and unknown risks,
the Company’s results may differ materially from its expectations
and projections.
Additional information concerning these and other factors can be
found in press releases as well as the Company's public periodic
filings with the Securities and Exchange Commission, including the
discussion under the heading "Item 1A. Risk Factors" in the
Company's Form 10-K filed on February 18, 2014. Such filings are
available either publicly or upon request from Fluor's Investor
Relations Department: (469) 398-7220. The Company disclaims any
intent or obligation other than as required by law to update its
forward-looking statements in light of new information or future
events.
Fluor CorporationMedia RelationsBrian Mershon 469-398-7621orEric
Krantz, 281-263-6030orInvestor RelationsKen Lockwood,
469-398-7220orJason Landkamer, 469-398-7222
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