Tutor Perini Announces Senior Notes Offering
April 10 2017 - 7:59AM
Business Wire
Tutor Perini Corporation (NYSE: TPC) (the “Company”), a
leading civil and building construction company, today announced it
is offering $500 million in aggregate principal amount of Senior
Notes due 2025 (the “notes”) in a private offering. The notes will
be senior unsecured obligations of the Company and will be
guaranteed by certain of its subsidiaries.
The Company intends to use the net proceeds from this offering,
together with borrowings under a new revolving credit facility, to
repurchase any and all of its outstanding 7⅝% Senior Notes due 2018
(the “2018 Notes”) through a tender offer (the “Tender Offer”)
announced today and subsequent redemption, to pay off its existing
term loan and existing revolver and to pay transaction fees and
expenses related to the offering. The offering, amount and terms of
the notes are subject to market conditions.
The notes and related guarantees are being offered only to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended
(the “Securities Act”) or, outside the United States, to persons
other than “U.S. persons” in compliance with Regulation S under the
Securities Act. This press release does not constitute an offer to
sell or the solicitation of an offer to buy the notes and related
guarantees. Any offers of the notes and related guarantees will be
made only by means of a private offering circular. The notes and
related guarantees have not been registered under the Securities
Act, or the securities laws of any other jurisdiction, and may not
be offered or sold in the United States without registration or an
applicable exemption from registration requirements.
The terms and conditions of the Tender Offer are described in an
Offer to Purchase, dated April 10, 2017 (the "Statement"), which
has been sent to holders of the 2018 Notes. This press release is
not an offer to purchase or a solicitation of an offer to sell any
2018 Notes. The Tender Offer is made only by, and pursuant to the
terms of, the Statement. In addition, this press release does not
constitute a notice of redemption of the 2018 Notes under the
optional redemption provisions of the indenture governing the 2018
Notes.
About Tutor Perini Corporation
Tutor Perini Corporation is a leading civil and building
construction company offering diversified general contracting and
design-build services to private clients and public agencies
throughout the world. We have provided construction services since
1894 and have established a strong reputation within our markets by
executing large complex projects on time and within budget while
adhering to strict quality control measures. We offer general
contracting, pre-construction planning and comprehensive project
management services, including the planning and scheduling of the
manpower, equipment, materials and subcontractors required for a
project. We also offer self-performed construction services
including excavation, concrete forming and placement, steel
erection, electrical and mechanical services, plumbing and HVAC. We
are known for our major complex building project commitments, as
well as our capacity to perform large and complex transportation
and heavy civil construction for government agencies and private
clients throughout the world.
Note Regarding Forward-Looking Statements
The statements contained in this release that are not purely
historical are forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, including without limitation, statements
regarding the Company’s intentions, expectations or beliefs
regarding the notes offering, the use of proceeds therefrom, the
Tender Offer and any redemption of the 2018 Notes. The Company’s
current expectations and beliefs are expressed in good faith and
the Company believes there is a reasonable basis for them. There
can be no assurance, however, that future developments affecting
the Company will be those that the Company has anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the Company’s control) or other
assumptions that may cause actual results to be materially
different from those expressed or implied by such forward-looking
statements. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required under applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170410005617/en/
Tutor Perini CorporationJorge Casado, 818-362-8391Vice
President, Investor Relations & Corporate
Communicationswww.tutorperini.com
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