Tutor Perini 2025 Bond Leads Gains in HY Secondary Trading

A Tutor Perini bond due in 2025 climbed the most since November after the company won a contract to build a new jail facility in New York City.

• The company’s 6.875% maturing May 2025 rose 3.25 cents on the dollar to 76.5 cents as of 3:12 p.m. New York time, according to Trace data
• The debt led gains across high-yield, according to Trace data
• The New York City Department of Design and Construction awarded the California-based company a roughly $2.95 billion contract for the design and building of a jail facility in Brooklyn

Read More: Tutor Perini Gets $2.95b ...