secwatch.observer — SEC 8-K summary
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Issuer:     FLUOR CORP (FLR)
CIK:        0001124198
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001104659-23-088610
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fluor prices $500M of 1.125% convertible senior notes due 2029; proceeds for capped calls and 2024 note tender
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- $500M principal of 1.125% convertible senior notes due 2029 priced; conversion premium ~32.5% (~$45.37/shr).
- Initial purchasers have option for up to $75M additional notes; settlement expected Aug 10, 2023.
- Net proceeds ~$486.3M ($559.4M if over-allotment exercised); used to fund capped call transactions & repurchase 2024 notes.
- Capped call transactions entered with option counterparties at initial cap price of $68.48/shr to mitigate dilution.
- Notes mature Aug 15, 2029; interest payable semi-annually; Fluor may redeem on/after Aug 20, 2026 under certain conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1124198/000110465923088610/0001104659-23-088610-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1124198/000110465923088610/tm2322980d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-088610

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