Fluor Adjusts Senior Notes Conversion Rate
Fluor announced that the conversion rate applicable to its outstanding 1.5% Convertible Senior Notes due 2024 will be adjusted to 36.2815 from 35.9104, effective March 7, 2011, 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 recognition of postponed adjustments relating to cash dividends paid since the third quarter of 2008, which adjustments were carried forward as permitted under the indenture.
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