Fluor lifts conversion rate on 1.5% convertible senior notes due 2024

By Susanna Moon

Chicago, March 4 - Fluor Corp. said it adjusted the conversion rate on its outstanding 1.5% convertible senior notes due 2024 to 36.2815 from 35.9104, effective March 7.

The adjustment was made as a result of the company's recognition of postponed adjustments for cash dividends paid since the third quarter of 2008. The adjustments were carried forward as permitted under the note indenture, according to a company press release.

Fluor provides engineering, procurement, construction, maintenance and project management services and is based in Irving, Texas.

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