🟢 MasTec is trading 4.9% up today after securing $1.3B to fund its Superior Group acquisition

MasTec is trading 4.9% up at $353.18 in pre-market after drawing $1.3 billion in new debt facilities to fund the cash portion of its $1.65 billion acquisition of The Superior Group.

• The acquisition of Electrical Specialists, Inc. (The Superior Group) marks a strategic expansion into high-growth electrical and data center infrastructure markets.
• Management expressed confidence in maintaining an investment-grade credit profile despite the added leverage from the new debt facilities.
• The $1.65 billion deal reflects the company's focus on scaling its specialized infrastructure services and footprint.