---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-090465"
form_type: "8-K"
ticker: "FLR"
cik: "0001124198"
company_name: "FLUOR CORP"
filed_at: "2023-08-11T23:59:59+00:00"
generated_at: "2026-06-11T13:52:03.908381+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fluor issues $575M 1.125% convertible notes due 2029 to repurchase 2024 notes

## Summary
- $575M aggregate principal (including $75M option exercise) of 1.125% Convertible Senior Notes due Aug 15, 2029.
- Initial conversion rate 22.0420 shares per $1,000 principal (~$45.37/share); capped call transactions cost $72.5M to mitigate dilution.
- Net proceeds ~$559.4M; portion funds capped call, remainder to repurchase outstanding 2024 Senior Notes via tender offer.
- Credit agreement amended to permit the note issuance and capped call transactions.

## SEC filing metadata
- accession: 0001104659-23-090465
- form_type: 8-K
- ticker: FLR
- cik: 0001124198
- company_name: FLUOR CORP
- filed_at: 2023-08-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1124198/000110465923090465/0001104659-23-090465-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1124198/000110465923090465/tm2323493d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-090465
- JSON: https://secwatch.observer/filing/0001104659-23-090465.json
- Plain text: https://secwatch.observer/filing/0001104659-23-090465.txt

## Key facts
- Debt Financings
  FLUOR CORP incurred convertible notes of $575 million aggregate principal amount with BofA Securities, Inc. and Citigroup Global Markets Inc. at 1.125% per year maturing August 15, 2029.
  - Instrument: convertible notes
  - Principal: $575 million aggregate principal amount
  - Counterparty: BofA Securities, Inc. and Citigroup Global Markets Inc.
  - Rate: 1.125% per year
  - Maturity: August 15, 2029
  - Event: incurrence
  source text: $575 million aggregate principal amount of the Company’s 1.125% Convertible Senior Notes due 2029
  evidence_url: https://www.sec.gov/Archives/edgar/data/1124198/000110465923090465/0001104659-23-090465-index.htm
- Material Agreements
  FLUOR CORP entered into Indenture with U.S. Bank Trust Company, National Association valued at $575 million aggregate principal amount (effective 2023-08-10).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $575 million aggregate principal amount
  - Effective: 2023-08-10
  source text: the Company entered into an Indenture, dated August 10, 2023 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/1124198/000110465923090465/0001104659-23-090465-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.