MasTec to start roadshow Monday for $350 million 10-year notes

By Paul A. Harris

Portland, Ore., March 1 - MasTec, Inc. plans to start a roadshow on Monday in New York City for a $350 million offering of 10-year senior notes (existing Ba3/BB-), according to a syndicate source.

The roadshow moves to Boston on Tuesday and to Los Angeles on Wednesday, and the deal is set to price thereafter.

Barclays is the left lead for the offering, which has been registered with the Securities and Exchange Commission. Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc. are joint bookrunners.

FBR Capital Markets, KeyBanc Capital Markets and Stifel Nicolaus & Co. Inc. are the co-managers.

The notes come with five years of call protection.

The Coral Gables, Fla.-based infrastructure construction company plans to use the proceeds to fund the repurchase of $150 million of its 7 5/8% senior notes due 2017, to repay the outstanding balance under its existing credit facility and for general corporate purposes.

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