Fluor $575 million convertible senior notes offering
The 1.125% notes are due 2029
Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Fluor Corporation of $575 million aggregate principal amount of its 1.125% convertible senior notes due 2029, including notes purchased pursuant to the exercise of the initial purchasers’ option. In addition, Davis Polk advised the counterparties to capped call transactions entered into in connection with the offering.
Fluor Corporation is a large global professional services firm providing engineering, procurement, construction, fabrication and modularization and project management services. It serves clients in a diverse set of industries worldwide including advanced technologies and manufacturing, chemicals, infrastructure, life sciences, LNG, mining and metals, nuclear project services, oil and gas production and fuels. Fluor is also a service provider to the U.S. federal government and governments abroad.
The Davis Polk capital markets team included partner Maurice Blanco and associate Michael Schuster. The equity derivatives team included partner Mark M. Mendez, counsel Faisal Baloch, Katharine O’Banion and Justin Michael and associates Eugenia S. Lee and Jonathan Schlecht. Partner Michael Farber and associate William Liang provided tax advice. All members of the Davis Polk team are based in the New York office.