Tutor Perini refinances $400M debt at 6.625%, cuts interest rate by 525 bps from 11.875%

Filed July 6, 2026 · Period ending July 2, 2026 · ~1 min read

Key Changes

• high

  Issued $400M of 6.625% senior notes due 2033 at par to redeem $400M of 11.875% notes due 2029, reducing annual interest expense by approximately $21M on the refinanced principal.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Amended revolving credit facility: extended maturity to July 2031, doubled capacity from $170M to $350M, and cut SOFR margin from 4.25%-4.75% to 1.75%-2.50%.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Replaced 2.25x First Lien Net Leverage covenant with 3.50x Total Net Leverage and 3.00x minimum Interest Coverage, providing more operational flexibility.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →