Quanta Services closed its offering of $1.0 billion aggregate principal amount of 2.9% senior notes due 2030 for net proceeds of approximately $986.7 million, after deducting underwriting discounts and estimated offering expenses._x000D_
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Quanta used the net proceeds from the offering, together with cash on hand, to repay the term loans under its credit agreement. Additionally, Quanta amended its credit agreement to, among other things, increase the aggregate revolving commitments of the lenders from $2.135 billion to $2.510 billion and extend the maturity date for the revolving commitments under the credit agreement from October 31, 2022 to September 22, 2025._x000D_
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“Quanta is proud to have received an investment grade credit rating associated with our recent debt offering and to have expanded the capacity and extended the term of our credit facility, which we believe points to our strong financial profile, the resiliency and sustainability of our business model and a positive multi-year outlook,” Duke Austin, president and CEO of Quanta Services, said._x000D_
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“This offering and amendment to our credit facility provides long-term debt capital at attractive rates, extends our debt maturities and diversifies our capital structure into the investment grade credit market, which we believe is beneficial for Quanta’s long-term capital needs. We would like to thank our lenders for their ongoing relationship with and confidence in Quanta and welcome our new bond investors,” Derrick Jensen, CFO of Quanta Services, commented._x000D_
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BofA Securities, PNC Capital Markets, Truist Securities and Wells Fargo Bank acted as arrangers for the amendment._x000D_
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Quanta Services is a specialized contracting services company, delivering infrastructure solutions for the utility, pipeline, energy and communications industries.
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