MasTec signs $700 million term loan and agrees to buy Superior Group
MasTec entered a $700 million delayed draw term loan to help fund its planned acquisition of Electrical Specialists, Inc., d/b/a the Superior Group, and expanded its revolving credit commitments by $350 million to $2,250 million. The company also agreed to issue about 1,195,721 shares, valued at about $475 million, as partial acquisition consideration, which the filing says represents about 1.5% of outstanding shares.
Key points
- Delayed draw term loan of $700 million: $400 million three-year tranche and $300 million four-year tranche, with Bank of America as administrative agent.
- Revolving credit commitments increased by $350 million to an aggregate $2,250 million.
- About 1,195,721 consideration shares valued at about $475,000,000, roughly 1.5% of outstanding shares after issuance, expected to close in the third quarter of 2026.
- Director Manuel Benito Miranda appointed to the Board effective June 30, 2026, and to the Compensation Committee.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 07, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.