New Issue: Quanta offers further details about $1 billion of 2.9% 10-year notes

By Devika Patel

Knoxville, Tenn., Sept. 18 – Quanta Services, Inc. offered further details, including the price, spread and yield, about a $1 billion sale of 2.9% 10-year senior notes (Baa3/BBB-) that priced on Thursday, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.663 to yield 2.939%, with a spread of Treasuries plus 225 basis points.

The bookrunners were 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.
Amount:	$1 billion
Description:	Senior notes
Maturity:	Oct. 1, 2030
Bookrunners:	BofA Securities Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities Inc.
Senior co-managers:	BBVA Securities Inc., BMO Capital Markets Corp., BNP Paribas Securities Corp., Citizens Capital Markets Inc. and MUFG
Co-managers:	HSBC Securities (USA) Inc. and U.S. Bancorp Investments Inc.
Coupon:	2.9%
Price:	99.663
Yield:	2.939%
Spread:	Treasuries plus 225 bps
Call:	Make-whole call at Treasuries plus 35 bps until July 1, 2030, then a par call
Change-of-control put:	At 101
Trade date:	Sept. 17
Settlement date:	Sept. 22
Ratings:	Moody’s: Baa3
	S&P: BBB-
Distribution:	SEC registered

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