MasTec (MTZ) Announces Proposed Private Offering of $400 Million of Senior Unsecured Notes Due 2028 to Refinance Existing $400 Million Senior Notes Due 2023

MasTec, Inc. (the "Company") (NYSE: MTZ) today announced that it intends to commence a private offering of $400 million aggregate principal amount of senior unsecured notes due 2028 (the "Notes"), subject to market and other conditions (the "Offering").

The Notes will rank equally in right of payment with any existing and future senior debt, and senior in right of payment to any existing and future subordinated debt. The Notes will be effectively junior to the Company's secured debt, including the Company's existing credit facilities, to the extent of the value of the assets securing that debt.

If the Offering is consummated, the Company intends to use the proceeds from the Offering ultimately to redeem or repurchase all of the Company's existing 4.875% Senior Notes due 2023 (the "2023 Notes"). Prior to redeeming the 2023 Notes, the Company may temporarily pay down amounts under its revolving credit facility and then, subject to customary borrowing conditions, reborrow under the revolving credit facility to effect the redemption.

The Notes will be guaranteed on a senior unsecured basis by the Company's wholly-owned domestic restricted subsidiaries that guarantee the Company's existing credit facilities, subject to certain exceptions.

There can be no assurance that the Company will consummate the Offering or redeem the 2023 Notes.

The Offering is exempt from the registration requirements of Securities Act of 1933 (as amended, the "Securities Act"). The Notes will be offered and sold only to persons reasonably believed to be "qualified institutional buyers" pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold absent an effective registration statement or pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

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