{"id":30981,"date":"2026-07-06T18:00:00","date_gmt":"2026-07-06T16:00:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=c805df82bf2c98c2a95a45babb57c335"},"modified":"2026-07-06T18:00:00","modified_gmt":"2026-07-06T16:00:00","slug":"tutor-perini-completes-redemption-of-400-million-of-senior-notes-and-amendment-and-restatement-of-credit-agreement","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=30981","title":{"rendered":"Tutor Perini Completes Redemption of $400 Million of Senior Notes and Amendment and Restatement of Credit Agreement"},"content":{"rendered":"

LOS ANGELES--(BUSINESS WIRE)--$TPC<\/a> #debtrefinancing<\/a>--Tutor Perini Corporation (NYSE: TPC) (the \u201cCompany\u201d), a leading civil, building and specialty construction company, announced today that it has completed the redemption of $400 million aggregate principal amount of the Company\u2019s 11.875% Senior Notes due April 30, 2029 (the \u201c2029 Notes\u201d).<\/p><\/a><\/a>

\nThe Company funded the redemption of the 2029 Notes with the net proceeds of its previously announced offering of $400 million in aggregate principal amount of 6.625% Senior Notes due 2033, together with cash on hand.<\/p>

\nThe Company also entered into an amendment and restatement of its existing credit agreement that modified the terms of the existing revolving credit facility, including (a) extending the maturity of the Revolving Credit Facility to July 2, 2031, (b) increasing the commitments under the Revolving Credit Facility from $170.0 million to $350.0 million, (c) reducing the Adjusted Term Secured Overnight Financing Rate (SOFR) margin to a range between 1.75% and 2.50% based on a Total Net Leverage Ratio (compared to the previous range between 4.25% and 4.75% based on a First Lien Net Leverage Ratio) and eliminating the credit spread adjustment (10 bps), (d) reducing the base rate margin to a range between 0.75% and 1.50% based on a Total Net Leverage Ratio (compared to the previous range between 3.25% and 3.75% based on a First Lien Net Leverage Ratio), and (e) replacing the maximum First Lien Net Leverage Ratio financial maintenance covenant (of 2.25 to 1.00) with (1) a maximum Total Net Leverage Ratio of 3.50 to 1.00 and (2) a minimum cash Interest Coverage Ratio of 3.00 to 1.00. Capitalized terms used but not defined herein have the meanings ascribed to such terms in the amended and restated credit agreement, as filed as an exhibit to the Company\u2019s Form 8-K dated July 6, 2026.<\/p>

\nThe redemption of the 2029 Notes and the amendment and restatement of the credit agreement were both completed on July 2, 2026.<\/p>

\nTutor Perini\u2019s Chief Financial Officer, Ryan Soroka, remarked, \u201cWe are pleased with the tremendous progress we continue to make, returning the Company to strong profitability, growing our backlog to new record levels, and generating record cash flows that have enabled us to substantially deleverage our balance sheet. This has enabled us to successfully complete our recent refinancing, which extends our debt maturities, significantly reduces future interest expense, and more than doubles the size of our revolving credit facility while providing us with meaningfully improved terms.\u201d<\/p>

\nAbout Tutor Perini Corporation<\/b><\/p>

\nTutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection.<\/p> Contacts<\/b>

\nTutor Perini Corporation\nJorge Casado, 818-362-8391\nSenior Vice President, Investor Relations and Corporate Communications<\/p>","protected":false},"excerpt":{"rendered":"

LOS ANGELES–(BUSINESS WIRE)–$TPC #debtrefinancing–Tutor Perini Corporation (NYSE: TPC) (the \u201cCompany\u201d), a leading civil, building and specialty construction company, announced today that it has completed the redemption of $400 million aggregate prin…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30981","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/30981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30981"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/30981\/revisions"}],"predecessor-version":[{"id":30982,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/30981\/revisions\/30982"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}