FLR - Fluor prices $500M senior convertible notes

2023-08-08 05:12:28 ET

Fluor ( NYSE: FLR ) prices $500M aggregate principal amount of 1.125% convertible senior notes due 2029 in a private offering.

Fluor has granted the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $75M aggregate principal amount of the notes on the same terms and conditions.

The sale of the notes to the initial purchasers is expected to settle on August 10, 2023.

The notes will bear interest at 1.125% per year.

Net proceeds estimated to be ~$486.3M (or $559.4M if the initial purchasers exercise their option to purchase additional Notes in full), after deducting fees and estimated expenses.

Proceeds will be used to pay the cost of the capped call transactions, the remainder will be used to repurchase all or a portion of the company’s outstanding 2024 notes.

For further details see: