Fluor $600 million convertible preferred stock offering
Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Fluor Corporation of $600 million aggregate liquidation preference of Series A 6.50% cumulative perpetual convertible preferred stock, including shares purchased pursuant to the exercise of the initial purchasers’ option.
Fluor Corporation is a holding company that owns a number of subsidiaries, as well as interests in joint ventures. Acting through these entities, it is one of the largest professional services firms providing engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. Fluor provides these services to its clients in a diverse set of industries worldwide including oil and gas, chemicals and petrochemicals, mining and metals, infrastructure, life sciences, advanced manufacturing and advanced technologies. Fluor is also a service provider to the U.S. federal government and governments abroad and performs operations, maintenance and asset integrity activities globally for major industrial clients.
The Davis Polk capital markets team included partner Maurice Blanco and associates Alaael-Deen Shilleh and Chan Tov McNamarah The equity derivatives team included partner Mark M. Mendez and associate Hanbing Zhang. Partner Lucy W. Farr and associate Ben Levenback provided tax advice. Counsel David A. Zilberberg provided environmental advice. Associate Mikaela Dealissia provided intellectual property advice. Members of the Davis Polk team are based in the New York and São Paulo offices.