Tutor Perini extends spring-forward maturity on 89.8% of Term Loan B to Apr 21, 2025; hires Goldman for refinancing

TUTOR PERINI CORP

Amended 2020 Credit Agreement: spring-forward maturity for 89.8% of $368.2M Term Loan B extended to Apr 21, 2025 from Jan 30, 2025.
Consenting lenders received a fee of 0.50% of principal; non-consenting lenders' portion retains Jan 30, 2025 maturity.
Company has $500M in 6.875% Senior Notes due May 1, 2025; no revolver balance drawn.
Engaged Goldman Sachs & Co. to assist with Senior Notes refinancing in early 2024.
Perella Weinberg Partners led the amendment; Company may use cash balances for repayment or refinancing.

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