Published on 9/17/2020 in the Prospect News Investment Grade Daily.
New Issue: Quanta Services sells $1 billion 2.9% 10-year senior notes
By Devika Patel
Knoxville, Tenn., Sept. 17 – Quanta Services, Inc. priced $1 billion of 2.9% 10-year senior notes (Baa3/BBB-) on Thursday, according to a press release.
The bookrunners are BofA Securities Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities Inc.
Proceeds will be used to repay the term loans under the company’s existing credit agreement.
Quanta is a Houston-based specialized contracting services company.
| Issuer: | Quanta Services, Inc.
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| Amount: | $1 billion
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| Description: | Senior notes
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| Maturity: | 2030
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| Bookrunners: | BofA Securities Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities Inc.
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| Coupon: | 2.9%
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| Trade date: | Sept. 17
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| Settlement date: | Sept. 22
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| Ratings: | Moody’s: Baa3
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| S&P: BBB-
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