MasTec, Inc. has borrowed a total of $1.3 billion to finance a portion of the cash consideration for its acquisition of Electrical Specialists, Inc., operating as The Superior Group. The funds were drawn on July 20, 2026, through two separate debt instruments.
Key Details
- Total Borrowing: $1.3 billion was drawn on July 20, 2026.
- Financing Breakdown: The funding consists of a $700 million draw from a new senior unsecured term loan agreement and a $600 million draw from its existing credit facility.
- Use of Proceeds: The funds are primarily for the acquisition of The Superior Group and related fees, with a portion of the credit facility draw designated for working capital purposes.