FLR - Fluor marginally lower on $500M convertible senior notes offering
2023-08-07 07:41:12 ET
Fluor ( NYSE: FLR ) intends to offer $500M aggregate principal amount of convertible senior notes due 2029 in a private offering.
The company expects to grant the initial purchasers additional $75M aggregate principal amount of the notes on the same terms and conditions.
The company intends to use a portion of the net proceeds to pay the cost of the capped call transactions, remainder of the net proceeds to repurchase all or a portion of the company’s senior notes due 2024.
Fluor may not redeem the notes prior to August 20, 2026. Fluor may redeem for cash all or any portion of the notes, at its option, on or after August 20, 2026.
The stock price dropped 1% during pre-market hours.
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Fluor marginally lower on $500M convertible senior notes offering