---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-019166"
form_type: "8-K"
ticker: "GVA"
cik: "0000861459"
company_name: "GRANITE CONSTRUCTION INC"
filed_at: "2026-06-02T20:17:31+00:00"
generated_at: "2026-06-02T20:19:36.032220+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Granite issues $600M 6.375% notes due 2034; redeems $273.7M convertibles, expects ~$500M derivative charge

## Summary
- Issued $600M 6.375% senior notes due 2034; net proceeds ~$590M to redeem all outstanding 3.75% convertible notes due 2028 ($273.7M).
- Called 2028 Notes for redemption Aug 10, 2026; elected cash-settlement conversion to limit dilution, triggering derivative bifurcation under ASC 815.
- Estimated derivative liability ~$500M as non-cash charge in Q2/Q3 2026; company to exclude from non-GAAP; 2026 adjusted EBITDA guidance unchanged.
- Notes are senior unsecured, guaranteed by certain domestic subsidiaries; redeemable at make-whole premium prior to June 2029.
- Remainder of net proceeds to repay revolver borrowings and for general corporate purposes.

## SEC filing metadata
- accession: 0001437749-26-019166
- form_type: 8-K
- ticker: GVA
- cik: 0000861459
- company_name: GRANITE CONSTRUCTION INC
- filed_at: 2026-06-02T20:17:31+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/861459/000143774926019166/0001437749-26-019166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/861459/000143774926019166/gva20260601_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-019166
- JSON: https://secwatch.observer/filing/0001437749-26-019166.json
- Plain text: https://secwatch.observer/filing/0001437749-26-019166.txt

## Source-grounded claims
- claim_id: 48588942269b722fb861d801cdd77b9f2e44321a
  claim: GRANITE CONSTRUCTION INC incurred senior notes of $600.0 million with U.S. Bank Trust Company, National Association at 6.375% per year maturing June 15, 2034.
  evidence_excerpt: On June 2, 2026, Granite Construction Incorporated (the “Company”) closed its offering of $600.0 million aggregate principal amount of its 6.375% senior notes due 2034 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/861459/000143774926019166/0001437749-26-019166-index.htm
- claim_id: ee7b81fda4819e1b292aa8082f9c7ae02deb077c
  claim: GRANITE CONSTRUCTION INC entered into Indenture for 6.375% Senior Notes due 2034 with U.S. Bank Trust Company, National Association valued at $600,000,000 6.375% senior notes due 2034 (effective 2026-06-02).
  evidence_excerpt: On June 2, 2026, Granite Construction Incorporated (the “Company”) closed its offering of $600.0 million aggregate principal amount of its 6.375% senior notes due 2034 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/861459/000143774926019166/0001437749-26-019166-index.htm

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