PSN

Parsons to Present at the Raymond James 45th Annual Institutional Investors Conference

Retrieved on: 
Thursday, February 29, 2024

CHANTILLY, Va., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Raymond James 45th Annual Institutional Investors Conference.

Key Points: 
  • CHANTILLY, Va., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Raymond James 45th Annual Institutional Investors Conference.
  • Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in a fireside chat question and answer session on Tuesday, March 5, 2024, at approximately 1:05 p.m. Eastern Time.
  • This presentation will be available live via webcast on the investor relations section of Parsons’ website (https://investors.parsons.com/).
  • A replay of the webcast also will be available on the website for 30 days.

MPA Delivery Partners Selected for Hudson Tunnel Project, The Most Urgent Infrastructure Project in the U.S.

Retrieved on: 
Wednesday, February 28, 2024

Together, the firms will coordinate among all stakeholders, contractors, and consultants to ensure that the project satisfies GDC’s requirements.

Key Points: 
  • Together, the firms will coordinate among all stakeholders, contractors, and consultants to ensure that the project satisfies GDC’s requirements.
  • “The Hudson Tunnel Project is a critical, once-in-a-generation effort that will embody the excellence of our nation’s future infrastructure,” said Mark Fialkowski, president, North America Infrastructure for Parsons.
  • “We look forward to partnering with the Gateway Development Commission on unlocking the full economic and societal potential of the Hudson Tunnel Project.
  • “The Gateway Hudson Tunnel will be a model of resilient infrastructure to futureproof safe and sustainable travel along the nation’s most economically vital corridor.

Parsons Wins Seat on $245M U.S. Army Corps of Engineers Contract for Environmental Remediation

Retrieved on: 
Monday, February 26, 2024

The contract for environmental remediation activities has a five-year basic ordering period and represents new work for the company.

Key Points: 
  • The contract for environmental remediation activities has a five-year basic ordering period and represents new work for the company.
  • The contract will consist of projects funded by the Infrastructure Investment and Jobs Act related to the United States Environmental Protection Agency (USEPA) cleanup projects that protect public health and safety.
  • “Parsons delivers the full spectrum of environmental solutions using the latest technologies to deliver a cleaner, safer planet for our customers and future generations,” said Jon Moretta, president, Engineered Systems for Parsons.
  • The company is a leader in environmental remediation efforts with capabilities to meet challenges for air, land, and water.

Parsons’ $800 Million Convertible Senior Note Offering

Retrieved on: 
Friday, February 23, 2024

CHANTILLY, Va., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today the full exercise of the $100 million option to purchase additional notes granted to the initial purchasers in its private offering of 2.625% convertible senior notes due in 2029, increasing the aggregate principal amount of notes to be issued by the company to $800 million.

Key Points: 
  • CHANTILLY, Va., Feb. 23, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today the full exercise of the $100 million option to purchase additional notes granted to the initial purchasers in its private offering of 2.625% convertible senior notes due in 2029, increasing the aggregate principal amount of notes to be issued by the company to $800 million.
  • In connection with the exercise of the option, Parsons entered into additional capped call transactions with certain of the initial purchasers, their respective affiliates, and other financial institutions.
  • The offering was made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 as amended.
  • Parsons also confirmed that its Board of Directors has refreshed the Corporation’s stock repurchase authority to an amount of $100 million and removed the quarterly $25 million cap on such repurchases.

Parsons Announces Pricing Of $700.0 Million Of Convertible Senior Notes Due 2029; Enters into Concurrent Capped Call Transactions to Offset Potential Dilution

Retrieved on: 
Thursday, February 22, 2024

In connection with the offering, Parsons entered into privately negotiated capped call transactions to offset potential dilution.

Key Points: 
  • In connection with the offering, Parsons entered into privately negotiated capped call transactions to offset potential dilution.
  • In connection with issuing the Existing Convertible Notes, Parsons entered into convertible note hedge transactions (the “existing convertible note hedge transactions”) and warrant transactions (the “existing warrant transactions,” and, together with the existing convertible note hedge transactions, the “existing call spread transactions”) with certain financial institutions (the “existing option counterparties”).
  • The capped call transactions will cover, subject to anti-dilution adjustments substantially similar to those applicable to the notes, the number of shares of Parsons’ common stock underlying the notes.
  • If the initial purchasers exercise their option to purchase additional notes, Parsons expects to enter into additional capped call transactions with the option counterparties.

Parsons Announces Offering Of $700.0 Million Of Convertible Senior Notes Due 2029

Retrieved on: 
Wednesday, February 21, 2024

CHANTILLY, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it intends to offer, subject to market and other conditions, $700.0 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement.

Key Points: 
  • CHANTILLY, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it intends to offer, subject to market and other conditions, $700.0 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement.
  • Upon conversion, the notes will settle for cash and, if applicable, shares of Parsons’ common stock.
  • The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the offering.
  • This activity could affect the market price of Parsons’ common stock and the initial conversion price of the notes.

Soudah Development Awards Project Management Consultancy Contract to Parsons

Retrieved on: 
Tuesday, February 20, 2024

CHANTILLY, Va., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been awarded a three-year contract for new work by Soudah Development – a real estate development company owned by the Public Investment Fund (PIF) of Saudi Arabia that is driving the development of Soudah Peaks, an upcoming year-round luxury mountain tourism destination set 3,015 meters above sea level on Saudi Arabia’s highest peak – for project management consultancy services.

Key Points: 
  • CHANTILLY, Va., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been awarded a three-year contract for new work by Soudah Development – a real estate development company owned by the Public Investment Fund (PIF) of Saudi Arabia that is driving the development of Soudah Peaks, an upcoming year-round luxury mountain tourism destination set 3,015 meters above sea level on Saudi Arabia’s highest peak – for project management consultancy services.
  • Parsons’ scope includes all project management and site supervision services for the development of Soudah Peaks which is home to 6 unique development zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, and Red Rock.
  • Saleh Aloraini, Chief Executive Officer of Soudah Development, commented: “We are delighted to partner with Parsons on this project, marking a giant leap forward in bringing our vision of luxury tourism experiences to life.
  • With a regional presence spanning more than 65 years, Parsons brings deep domain expertise across urban development, smart mobility, asset management, design, sustainability, and landscape architecture in the Kingdom.

Parsons Wins $25 Million Transit Improvement Contract from City of Oakland

Retrieved on: 
Tuesday, February 20, 2024

This $25 million contract includes designs for eight at-grade intersections, a multiuse trail, traffic signal plans, and represents new work for Parsons.

Key Points: 
  • This $25 million contract includes designs for eight at-grade intersections, a multiuse trail, traffic signal plans, and represents new work for Parsons.
  • Parsons will also deliver feasibility studies to analyze grade separated railroad crossing features, geometric configurations and equipment upgrades.
  • Parsons has decades of experience designing, delivering, and protecting the infrastructure that connects our communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways.
  • To learn more about Parsons’ rail and transit expertise, visit https://www.parsons.com/rail-transit/.

Zephyr Releases PSN Top Guns List for Q4 2023, Highlighting Best-In-Class Separate Accounts, Managed Accounts and Managed ETF Strategies

Retrieved on: 
Wednesday, March 6, 2024

NEW YORK, March 6, 2024 /PRNewswire/ -- Zephyr, a subsidiary of Informa plc (LSE: INF), and a recognized leader in investment management technology for wealth managers and advisors, has released its highly anticipated PSN Top Guns List for Q4 2023. The list is an important reference for plan sponsors, investors and asset managers, showcasing the best performing separate accounts, managed accounts and managed ETF strategies each quarter.

Key Points: 
  • The list is an important reference for plan sponsors, investors and asset managers, showcasing the best performing separate accounts, managed accounts and managed ETF strategies each quarter.
  • PSN celebrates 40 years in 2024 as the longest running SMA database in the world.
  • The complete list of PSN Top Guns and an overview of the methodology, can be found here .
  • If you would like to learn more about becoming a part of the PSN database or would like to subscribe to PSN data, visit PSN .

Churchill Management Group's ETF Sector Rotation Awarded PSN Top Gun - Manager of the Decade by Informa Financial Intelligence

Retrieved on: 
Tuesday, February 27, 2024

Through a combination of Informa Financial Intelligence's proprietary performance screens, PSN Top Guns ranks products in their proprietary categories in over 50 universes.

Key Points: 
  • Through a combination of Informa Financial Intelligence's proprietary performance screens, PSN Top Guns ranks products in their proprietary categories in over 50 universes.
  • Churchill Management Group did not pay a fee to participate in the rating but may purchase promotional materials from Informa's PSN Manager Database.
  • Manager of the Decade: had an r-squared of 0.80 or greater relative to the style benchmark for the latest 10-year period.
  • At this point, the top ten performers for the latest 10-year period become the PSN Top Guns Manager of the Decade.