08:59 AM EDT, 04/15/2024 (MT Newswires) -- Tutor Perini ( TPC ) said Monday that it is offering $400 million worth of senior notes in a private offering.

The construction company said it plans to use the net proceeds, along with cash on hand, to redeem or repay $500 million of the company's 6.875% senior notes due May 1, 2025, as well as pay any related premiums, accrued interest, and fees and expenses associated with redemption or repayment.

Tutor Perini ( TPC ) shares were up 1% in premarket trading.