Fluor Prices Private Offering Of $500M Of 1.125% Convertible Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Fluor Corporation has priced a private offering of $500 million of 1.125% convertible senior notes due 2029. The notes will be convertible into cash, shares of Fluor’s common stock, or a combination of cash and shares of Fluor’s common stock, at Fluor’s election.
August 08, 2023 | 6:08 am
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Fluor Corporation's private offering of $500 million of 1.125% convertible senior notes could potentially increase the company's liquidity and dilute the existing shareholders' equity.
The private offering of convertible senior notes will increase Fluor's cash reserves, potentially strengthening its financial position. However, if the notes are converted into common stock, it could lead to dilution of existing shareholders' equity. The net impact on the stock price is uncertain in the short term.
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