Quanta Services upsizes revolver to $1.33 billion, extends it to 2018

By Susanna Moon

Chicago, Oct. 30 - Quanta Services, Inc. said it upsized its senior secured revolving credit facility to $1.325 billion from $700 million and pushed out the maturity to Oct. 30, 2018.

The amended facility contains an accordion that permits increasing the size of the facility by an additional $300 million.

The company amended its credit agreement with a syndicate of lenders led by Bank of America, NA and Wells Fargo, NA, according to a company press release.

The amended credit facility offers more favorable terms and rates as well as added flexibility for borrowings in foreign currencies, the release noted.

"Along with our strong cash flow, the amended credit facility provides Quanta greater financial flexibility to pursue large projects, acquisitions and other strategic opportunities as we execute on our growth initiatives," Derrick Jensen, chief financial officer of Quanta Services, said in the release.

"An important additional feature is the ability to borrow in Canada and Australia, both key international growth markets for Quanta."

Quanta is a Houston-based specialized contracting services company.

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