MasTec Announces Proposed Private Offering of Senior Convertible Notes Due 2014
04 November 2009 - 9:26AM
PR Newswire (US)
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. http://www.mastec.com/ DATASOURCE: MasTec, Inc.
CONTACT: J. Marc Lewis, Vice President-Investor Relations,
+1-305-406-1815, +1-305-406-1886 fax, Web Site:
http://www.mastec.com/
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