Perini Corporation Announces an Offering of $100 Million of Senior Notes due 2013
May 22 2006 - 7:00AM
Business Wire
Perini Corporation (NYSE:PCR) today announced that it intends to
offer, subject to market and other conditions, $100 million of
Senior Notes due 2013 (the "Notes"). The Notes will be guaranteed
by certain of Perini Corporation's subsidiaries. The proceeds from
the sale of the Notes will be used to repay the term loan
outstanding under Perini Corporation's existing credit facility and
for general corporate purposes. The Notes will be issued in a
private placement and are expected to be resold by the initial
purchaser to qualified institutional buyers under Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act"), to
persons outside of the United States under Regulation S under the
Securities Act and to certain institutional accredited investors
within the meaning of Rule 501(a) (1), (2), (3) or (7) under the
Securities Act. The Notes have not been registered under the
Securities Act and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements. This news release shall not constitute an offer to
sell or a solicitation of an offer to buy the Notes in any
jurisdiction in which such an offer or sale would be unlawful.
Forward-Looking Statements This announcement includes
forward-looking statements, including Perini Corporation's plans
regarding the issuance of the Notes and use of proceeds from the
sale of the Notes. Perini Corporation has based these
forward-looking statements on its current expectations and
projections about future events. Although Perini Corporation
believes that its assumptions made in connection with the
forward-looking statements are reasonable, no assurances can be
given that its assumptions and expectations will prove to have been
correct. These forward-looking statements are subject to various
risks, uncertainties and assumptions. Perini Corporation undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. In light of these risks, uncertainties and
assumptions, the forward-looking events discussed in this
announcement might not occur.
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