Fluor starts any-and-all tender offer for 3½% senior notes due 2024

Chicago, Aug. 7 – Fluor Corp. started an any-and-all tender offer for its $381,014,000 outstanding 3½% senior notes due 2024 (Cusip: 343412AC6), according to a press release.

The company is offering noteholders a tender consideration that will be based on 1% U.S. Treasury due Dec. 15, 2024 and a fixed spread of 20 basis points.

Pricing will be determined at 11 a.m. ET on Aug. 11.

Accrued interest will also be paid.

The offer will expire at 5 p.m. ET on Aug. 11, also the withdrawal deadline.

There are guaranteed delivery procedures. The deadline for guaranteed delivery procedures will be 5 p.m. ET on Aug. 15.

Settlement is planned for Aug. 16.

There is a financing condition related to a concurrent convertible senior notes offering.

The company plans to repay any and all 2024 notes not purchased by the company in the tender offer.

BofA Securities (888 292-0070, debt_advisory@bofa.com), BNP Paribas Securities Corp. (888 210-4358, dl.us.liability.management@us.bnpparibas.com) and Wells Fargo Securities (866 309-6316, liabilitymanagement@wellsfargo.com) are the dealer managers.

D.F. King & Co., Inc. is the tender and information agent for the offer (800 791-3319, 212 269-5550, fluor@dfking.com).

Fluor is an Irving, Tex.-based global engineering, construction and maintenance company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.