Quanta Services to launch $200 million credit facility Wednesday

By Sara Rosenberg

New York, Oct. 24 - Quanta Services Inc. is scheduled to hold a bank meeting Wednesday for a $200 million credit facility, according to market sources. Bank of America is the lead bank on the deal.

The facility is expected to consist of a $50 million revolver and a $150 million synthetic term loan, sources said.

Proceeds will be used to refinance existing debt and to provide letters of credit to help back the company's workers compensation plan.

Quanta Services is a Houston provider of specialized contracting services.

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