Tutor Perini Corp Files 8-K on Material Definitive Agreement
Ticker: TPC · Form: 8-K · Filed: Apr 23, 2024 · CIK: 77543
| Field | Detail |
|---|---|
| Company | Tutor Perini Corp (TPC) |
| Form Type | 8-K |
| Filed Date | Apr 23, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1.00, $400.0 million, $500 million, $1,000.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
Related Tickers: TPC
TL;DR
TUTOR PERINI CORP (TPC) just filed an 8-K on a material definitive agreement - watch for financial implications.
AI Summary
On April 22, 2024, Tutor Perini Corporation entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Massachusetts with its principal executive offices in Sylmar, California, filed an 8-K report detailing this event. This filing is significant for investors tracking the company's financial commitments and obligations.
Why It Matters
This filing indicates Tutor Perini Corporation has entered into a significant financial agreement, which could impact its financial obligations and operational capacity.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or risks that may affect the company's financial health.
Key Players & Entities
- Tutor Perini Corporation (company) — Registrant
- Massachusetts (jurisdiction) — State of Incorporation
- Sylmar, California (location) — Principal Executive Offices
- April 22, 2024 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did Tutor Perini Corporation enter into?
The filing indicates an 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', but the specific details of the agreement are not provided in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on April 22, 2024.
Where are Tutor Perini Corporation's principal executive offices located?
Tutor Perini Corporation's principal executive offices are located at 15901 Olden Street, Sylmar, California, 91342-1093.
What is Tutor Perini Corporation's state of incorporation?
Tutor Perini Corporation is incorporated in Massachusetts.
What is the SEC file number for Tutor Perini Corporation?
The SEC file number for Tutor Perini Corporation is 1-6314.
Filing Stats: 1,481 words · 6 min read · ~5 pages · Grade level 13 · Accepted 2024-04-23 16:30:21
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value TPC The New York Stock Exchan
- $400.0 million — pleted the previously announced sale of $400.0 million in aggregate principal amount of 11.875
- $500 million — r with cash on hand, to redeem or repay $500 million aggregate principal amount of the 6.875
- $1,000.00 — 00% of the principal amount thereof (or $1,000.00 per $1,000.00 in principal amount), plu
Filing Documents
- tpc-20240422.htm (8-K) — 41KB
- tpc-indenture2024conformed.htm (EX-4.1) — 1246KB
- 0000077543-24-000092.txt ( ) — 1639KB
- tpc-20240422.xsd (EX-101.SCH) — 2KB
- tpc-20240422_lab.xml (EX-101.LAB) — 21KB
- tpc-20240422_pre.xml (EX-101.PRE) — 12KB
- tpc-20240422_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. 11.875% Senior Notes due 2029 On April 22, 2024 (the "Closing Date"), Tutor Perini Corporation (the "Company") completed the previously announced sale of $400.0 million in aggregate principal amount of 11.875% Senior Notes due 2029 (the "Notes") at an issue price of 97.710% (the "Notes Offering"). The Company is using the net proceeds from this offering, together with cash on hand, to redeem or repay $500 million aggregate principal amount of the 6.875% Senior Notes due May 1, 2025 (the "2025 Notes") and pay related premiums, accrued interest and fees and expenses associated with such redemption or repayment. The Company may temporarily invest amounts that are not immediately needed for these purposes in cash or cash equivalents or other short-term investments, including marketable securities. The Notes and related guarantees were offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and, outside the United States, in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This report shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes and related guarantees in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. In addition, on April 17, 2024, the Company delivered a Notice of Conditional Full Redemption of its intent to redeem the remaining outstanding 2025 Notes on May 2, 2024 (the "Redemption Date"), pursuant to the indenture governing the 20
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 4.1 Indenture, dated as of April 22, 2024, among Tutor Perini Corporation, the guarantors named therein and Wilmington Trust, National Association, as trustee . 104 The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101). 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TUTOR PERINI CORPORATION Date: April 23, 2024 By : /s/ Ryan J. Soroka Ryan J. Soroka Senior Vice President and Chief Financial Officer 4