MasTec completes IEA acquisition; borrows $700M term loan; assumes IEA senior notes

MASTEC INC

Completed acquisition of IEA on Oct 7, 2022; issued ~2.65M shares of MTZ common stock to IEA shareholders.
Borrowed $700M in full under delayed draw term loan to fund cash consideration for IEA acquisition.
IEA Energy Services LLC's 6.625% Senior Notes due 2029 become indirect subsidiary obligation of MasTec.
Note guarantee provisions: Guarantors released upon repayment of IEA's existing credit facility.

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