Dycom to repay some term loan, revolver borrowings via new notes

By Taylor Fox

New York, March 24 – Dycom Industries, Inc. plans to repay portions of its senior credit facility using proceeds from an offering of $400 million senior notes due 2029, according to a news release.

Dycom will use $66.3 million to repay the term loan portion of the credit facility and $105 million to repay borrowings under the revolving portion of the credit facility.

The company will also use $58.3 million to repay in full its outstanding 0.75% convertible senior notes due September 2021 at their maturity.

Remaining proceeds from the new notes will be used for working capital and general corporate purposes.

Dycom provides specialty contracting services and is based in Palm Beach Gardens, Fla.

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