MasTec plans to sell $100 million of five-year convertibles

By Rebecca Melvin

New York, Nov. 3 - MasTec Inc. plans to price a private offering of $100 million of five-year senior convertible notes due 2014 to qualified institutional buyers, according to a release.

The convertible notes are expected to be guaranteed by the MasTec subsidiaries that guarantee MasTec's existing senior notes due 2017 and existing senior convertible notes due 2014.

Proceeds are intended to fund its acquisition of Precision Pipeline LLC and Precision Transport Co., LLC and for general corporate purposes.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.