Fluor to Sell up to $500 Million in Securities
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Fluor Corp., one of the world’s largest construction and engineering companies, plans to sell as much as $500 million in debt securities, according to a report filed Friday with the Securities and Exchange Commission.
The Irvine-based company said it would use proceeds from the sale for general corporate purposes, which may include working capital, capital expenditures, stock purchase programs, repayment and refinancing of debt, and acquisitions, according to a shelf registration statement.
The shelf filing lets Fluor raise money by selling the debt securities during a two-year period. The company registers the securities in advance and then may sell them from time to time as financing needs arise. Fluor’s stock fell 19 cents Friday to $40.75.(Bloomberg News)
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