Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when TPC files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsTutor Perini launches $400M notes offering to refinance 11.875% debt, doubles credit line
Filed June 22, 2026 · Period ending June 22, 2026 · ~1 min read
Key Changes
-
high
Company offering $400M senior notes due 2033 to refinance existing 11.875% notes due 2029, extending maturity and likely reducing interest costs
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
high
Revolving credit facility expanding from $170M to $350M with five-year maturity extension, more than doubling available liquidity
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
medium
New notes will be senior unsecured obligations guaranteed by wholly owned domestic subsidiaries that guarantee the revolving credit facility
Exhibit 99.1 view on EDGAR →
Summary
Tutor Perini is executing a balance sheet refinancing that addresses near-term debt maturities and expands financial flexibility. The company is offering $400 million in new senior notes due 2033 to retire its existing 11.875% notes due 2029. This refinancing extends the maturity by four years and should materially reduce interest expense given the high 11.875% coupon on the existing debt.
Concurrent with the notes offering, the company is amending its credit agreement to more than double its revolving credit facility from $170 million to $350 million while extending the maturity by five years. The combined effect improves Tutor Perini's liquidity position and debt service profile.
For holders, this represents proactive liability management that reduces refinancing risk and interest burden, though the offering is subject to market conditions and has not yet closed. The expanded credit line provides additional operational flexibility for a company in the capital-intensive construction sector.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that it is offering $400 million aggregate principal amount of senior notes due 2033 (the “Notes”) in a private offering. The Notes will be senior unsecured obligations of the Company and will be guaranteed by each of its wholly owned domestic subsidiaries that guarantee its revolving credit facility.
The company is offering $400 million of new senior unsecured notes maturing in 2033 through a private placement to qualified institutional buyers. These notes will be guaranteed by the company's wholly owned domestic subsidiaries that also guarantee its revolving credit facility.
Event · Item 7.01 — Regulation FD Disclosure
TPC announced a $400M senior notes offering to refinance existing 2029 notes and plans to expand its credit facility from $170M to $350M.
Added in current filing · verify on EDGAR →
On June 22, 2026, Tutor Perini Corporation (the “Company”) announced that it had commenced a proposed private offering (the “Offering”) of $400 million aggregate principal amount of senior notes due 2033 (the “Notes”), subject to market and other conditions.
The company launched a private offering of $400 million in senior notes maturing in 2033. The offering is subject to market conditions and has not yet closed.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jun 22, 2026 · How we verify