Mergers & Acquisitions ·
MasTec, Inc. entered into a $700 million senior unsecured delayed draw term loan agreement, consisting of a three-year…
MTZMastec Inc
MasTec, Inc. entered into a $700 million senior unsecured delayed draw term loan agreement, consisting of a three-year tranche and a four-year tranche, to finance its acquisition of Electrical Specialists, Inc. (the Superior Group). The company also increased its US dollar revolving borrowing commitments by $350 million to a total of $2,250 million. As part of the acquisition, MasTec will issue approximately 1,195,721 shares of common stock, valued at roughly $475 million, to the seller's equity security holders. MasTec, Inc. is a construction and infrastructure services company providing services to the energy and communications sectors.