HOUSTON, Sept. 17, 2020 /PRNewswire/ -- Quanta
Services, Inc. (NYSE:PWR) announced today the pricing of its
offering of $1.0 billion aggregate
principal amount of 2.900% senior notes due 2030. The offering is
expected to close on September 22,
2020, subject to the satisfaction of customary closing
conditions. The notes received investment grade credit ratings of
BBB- from S&P Global Ratings and Baa3 from Moody's Investors
Service. Quanta intends to use the net proceeds from the offering,
together with cash on hand or drawings under its existing credit
agreement's revolving credit facility, or a combination thereof, if
necessary, to repay the term loans under its existing credit
agreement.
BofA Securities, Inc., Wells Fargo Securities, LLC, J.P. Morgan
Securities LLC, PNC Capital Markets LLC and Truist Securities,
Inc., acted as joint book-running managers for the offering.
Copies of the prospectus supplement and accompanying base
prospectus relating to the offering may be obtained from BofA
Securities, Inc. toll-free at 1-800-294-1322 and Wells Fargo
Securities, LLC toll-free at 1-800-645-3751. You may also obtain
these documents free of charge by visiting the Electronic Data
Gathering and Analysis Retrieval System (EDGAR) on the website of
the Securities and Exchange Commission (SEC) at www.sec.gov.
The notes were offered and will be sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
SEC, and only by means of a prospectus supplement and accompanying
base prospectus. This news release does not constitute an offer to
sell or a solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Quanta Services
Quanta Services is a leading specialized contracting services
company, delivering comprehensive infrastructure solutions for the
utility, pipeline, energy and communications industries. Quanta's
comprehensive services include designing, installing, repairing and
maintaining energy and communications infrastructure. With
operations throughout the United
States, Canada,
Australia and select other
international markets, Quanta has the manpower, resources and
expertise to safely complete projects that are local, regional,
national or international in scope. For more information, visit
www.quantaservices.com.
Forward-Looking Statements
This press release (and any oral statements regarding the
subject matter of this press release) contains forward-looking
statements intended to qualify for the "safe harbor" from liability
established by the Private Securities Litigation Reform Act of
1995. Forward-looking statements include, but are not limited
to, statements relating to the anticipated timing of the closing of
the offering, Quanta's intended use of proceeds therefrom and the
future credit rating of the notes, as well as statements reflecting
expectations, intentions, assumptions or beliefs about future
events and other statements that do not relate strictly to
historical or current facts. Although Quanta's management
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. These statements can be
affected by inaccurate assumptions and by a variety of known and
unknown risks and uncertainties that are difficult to predict or
beyond Quanta's control, including, among others, those described
in the prospectus supplement and accompanying base prospectus
relating to the offering and other risks and uncertainties
detailed in Quanta's Annual Report on Form 10-K for the year ended
Dec. 31, 2019, Quanta's Quarterly
Reports on Form 10-Q for the quarters ended Mar. 31, 2020 and Jun. 30, 2020 and any other documents that Quanta
files with the SEC. For a discussion of these risks, uncertainties
and assumptions, investors are urged to refer to Quanta's documents
filed with the SEC that are available through Quanta's website
at www.quantaservices.com or through EDGAR
at www.sec.gov. Should one or more of these risks materialize,
or should underlying assumptions prove incorrect, actual results
may vary materially from those expressed or implied in any
forward-looking statements. Investors are cautioned not to place
undue reliance on these forward-looking statements, which are
current only as of this date. Quanta does not undertake and
expressly disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Quanta further expressly disclaims any
written or oral statements made by any third party regarding the
subject matter of this press release.
Contacts:
|
Derrick Jensen,
CFO
|
Media – Jenna
Jackson
|
|
Kip Rupp, CFA -
Investors
|
Quanta Services,
Inc.
|
|
Quanta Services,
Inc.
|
(713)
341-6741
|
|
(713)
629-7600
|
|
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SOURCE Quanta Services, Inc.