debt
confidence high
sentiment neutral
materiality 0.60
Quanta Services issues $1.5B senior notes with 0.950%, 2.350%, 3.050% coupons linked to Blattner deal
QUANTA SERVICES, INC.
- Issued $500M each of 0.950% notes due 2024, 2.350% due 2032, and 3.050% due 2041.
- Notes are senior unsecured; structurally subordinated to subsidiary liabilities.
- Special redemption at 101% if Blattner Acquisition not closed by June 30, 2022 or merger agreement terminated.
- Proceeds likely to fund the previously announced Blattner acquisition.
- Interest payable semi-annually; first payment April 1, 2022 (2024 and 2041 notes) and July 15, 2022 (2032 notes).