MasTec Reports Pricing Of Its Public Offering Of $550M Of Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
MasTec has announced the pricing of its public offering of $550 million of senior notes due 2029. The notes will pay interest semi-annually at a rate of 5.900% and will mature on June 15, 2029. The notes were priced at 99.956%.
June 05, 2024 | 9:26 pm
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POSITIVE IMPACT
MasTec has priced its $550 million senior notes due 2029 at 99.956%, with a 5.900% interest rate. This move is likely to impact the company's credit profile and liquidity.
The issuance of senior notes will provide MasTec with additional liquidity, which can be used for various corporate purposes. The interest rate of 5.900% is relatively attractive, and the pricing at 99.956% indicates strong demand. This is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
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