secwatch.observer — SEC 8-K summary
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Issuer:     TUTOR PERINI CORP (TPC)
CIK:        0000077543
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000077543-24-000092
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tutor Perini issues $400M 11.875% notes due 2029 to refinance $500M 2025 notes
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- Issued $400M aggregate principal of 11.875% Senior Notes due 2029 at 97.710% issue price.
- Net proceeds plus cash on hand to redeem or repay $500M of 6.875% Senior Notes due May 2025.
- Notes bear interest at 11.875%, mature April 30, 2029; first interest payment Oct 31, 2024.
- Notes are senior unsecured obligations, guaranteed by certain subsidiaries, effectively subordinated to secured debt.
- Indenture includes covenants limiting additional debt, restricted payments, mergers, liens; some suspended with investment-grade ratings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77543/000007754324000092/0000077543-24-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77543/000007754324000092/tpc-20240422.htm
  HTML page:      https://secwatch.observer/filing/0000077543-24-000092

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