MasTec announced two financing actions to support its pending acquisition of the Superior Group and bolster liquidity. The company entered a $700 million senior unsecured delayed-draw term loan split into three- and four-year tranches, with interest tied to Term SOFR or the Base Rate and margins linked to leverage and ratings. MasTec also amended its existing credit facility, raising U.S. dollar revolving commitments by $350 million to $2.25 billion, with all other terms unchanged. Management expects the combined facilities to provide flexibility for the acquisition and general corporate needs.
Agreement 1: MasTec Secures $700 Million Delayed-Draw Term Loan to Fund Superior Group Acquisition
- Agreement type: Senior unsecured delayed-draw term loan (three- and four-year tranches)
- Counterparty: Bank of America, as Administrative Agent, and other lenders
- Signed / Effective: Jul 07 2026 / Jul 07 2026
- Duration / Termination: Up to 4 years
- Reason: Finance Superior Group acquisition and related fees
Agreement 2: MasTec Increases Revolving Credit Facility by $350 Million to $2.25 Billion
- Agreement type: Amendment increasing unsecured revolving credit facility commitments
- Counterparty: Bank of America, as Administrative Agent, Swing Line Lender and L/C Issuer, and other lenders
- Signed / Effective: Jul 07 2026 / Jul 07 2026
- Duration / Termination: N/A
- Reason: Enhance liquidity to support acquisition and operations
Original SEC Filing:
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