Quanta Services has priced a $2 billion offering of senior notes across three maturities. The offering includes $500 million of 4.850% senior notes due 2029 priced at 99.950% of face value, $750 million of 5.300% senior notes due 2033 priced at 99.757%, and $750 million of 5.550% senior notes due 2036 priced at 99.696%. The transaction is expected to close on August 6, with net proceeds to be used for general corporate purposes, including repaying outstanding borrowings under its commercial paper program and senior credit facility. The debt offering follows Quanta's better-than-expected second-quarter results.
Quanta Services IncPricing $2B senior notes increases debt, though proceeds repay existing borrowings.