New Issue: MasTec sells $150 million 10-year senior notes to yield 7 5/8%

By Paul A. Harris

St. Louis, Jan. 24 - MasTec, Inc. priced $150 million 10-year senior notes (B1/B+) at par to yield 7 5/8% on Wednesday, according to an informed source.

The yield came in the middle of the 7½% to 7¾% price talk.

Morgan Stanley ran the books for the notes, which were issued via Rule 144A with registration rights and via Regulation S.

Proceeds will be used to redeem all outstanding 7¾% senior subordinated notes due February 2008.

MasTec is a Coral Gables, Fla., telecommunications and energy infrastructure company.

Issuer:	MasTec, Inc.
Amount:	$150 million
Maturity:	Feb. 1, 2017
Security description:	Senior notes
Bookrunner:	Morgan Stanley
Coupon:	7 5/8%
Price:	Par
Yield:	7 5/8%
Spread:	282 bps
Call features:	Make-whole call at Treasuries plus 50 bps until Feb. 1, 2012, then at 103.813, 102.542, 101.271, par on and after Feb. 1, 2015
Equity clawback:	Until Feb. 1, 2010 for 35% at 107.625
Trade date:	Jan. 24
Settlement date:	Jan. 31
Ratings:	Moody's: B1
	Standard & Poor's: B+
Distribution:	Rule 144A with registration rights/Regulation S
Price talk:	7½% to 7¾%

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