CORAL GABLES, Fla., Nov. 3 /PRNewswire-FirstCall/ -- MasTec, Inc. (NYSE: MTZ)
today announced that it is planning a private offering of $100 million in
aggregate principal amount of Senior Convertible Notes due 2014 to qualified
institutional buyers. The convertible notes are expected to be guaranteed by
the MasTec subsidiaries that guarantee MasTec's existing senior notes due 2017
and existing senior convertible notes due 2014. MasTec intends to use the net
proceeds from the offering to fund its previously announced acquisition of
Precision Pipeline LLC and Precision Transport Company, LLC and for general
corporate purposes.
These Senior Convertible Notes will not be registered under the Securities Act
of 1933 and may not be offered or sold in the United States absent
registration under the Securities Act of 1933 or an applicable exemption from
the registration requirements. This announcement does not constitute an offer
to sell, or the solicitation of an offer to buy, any securities and shall not
constitute an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
This press release contains forward-looking statements relating to our
business and its financing plans. Words such as "intends", "expected" or
"planning" are used to identify these forward-looking statements. These
statements are not guarantees of future performance and involve risks,
uncertainties and assumptions that are difficult to predict. There is no
assurance that the above offering will be completed or completed as described
above. Forward-looking statements are based upon assumptions as to future
events that may not prove to be accurate. Actual outcomes and results may
differ materially from what is expressed or forecasted in these
forward-looking statements.
www.mastec.com
SOURCE MasTec, Inc.
J. Marc Lewis, Vice President-Investor Relations, +1-305-406-1815,
+1-305-406-1886 fax, marc.lewis@mastec.com
