Fluor Announces Adjustment of Conversion Rate for 1.5 Percent Convertible Senior Notes Due 2024
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IRVING, Texas--(BUSINESS WIRE)--
Fluor Corporation (NYSE: FLR) announced that the conversion rate under its outstanding 1.5 percent Convertible Senior Notes due 2024 has been adjusted to 35.910 from 17.875, effective June 17, 2008, subject to further adjustment as provided in the governing indenture. The adjustment has been made pursuant to the terms of the indenture as a result of the company's two-for-one stock split announced May 7, 2008, and the recognition of postponed adjustments relating to cash dividends paid since the first quarter of 2006, which adjustments were carried forward as permitted under the indenture.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 500 company with revenues of $16.7 billion in 2007. For more information, visit www.fluor.com.
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Source: Fluor Corporation
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