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Latham Represents Lenders in US$600 Million Refinancing Transaction for Tutor Perini Corporation

August 18, 2020
Finance and corporate team advises lenders in refinancing transaction for leading civil, building and specialty construction company.

Tutor Perini Corporation, a leading civil, building and specialty construction company, has completed a US$600 million refinancing transaction, consisting of a new US$175 million revolving credit facility and US$425 million term loan facility. Proceeds were used to refinance existing borrowings under the company's revolving credit facility, to repurchase or retire outstanding convertible notes, and for general corporate purposes.

Latham & Watkins advised a syndicate of international investment banks led by Goldman Sachs on the new senior secured credit facilities. Latham also advised Goldman Sachs as exclusive agent in connection with the convertible note repurchase.

New York finance partners Scott Gottdiener and Alfred Xue led the Latham team that represented the Goldman Sachs-led lender group in the financing, with associates Jonathan Goldberg, Sam Chaturvedi, and Elisabeth Ong. New York corporate partner Senet Bischoff represented Goldman Sachs on the convertible note repurchase. Advice was also provided on tax matters by Chicago partner Rene de Vera.