Quanta Services Announces Pricing of Senior Notes Offering
Quanta Services (NYSE: PWR) has announced the pricing of its senior notes offering totaling $1.5 billion across three tranches. The offering includes $500 million of 4.300% notes due 2028, $500 million of 4.500% notes due 2031, and $500 million of 5.100% notes due 2035.
The notes are priced at 99.963%, 99.731%, and 99.705% of face value respectively. The offering is expected to close on August 7, 2025. Quanta plans to use the proceeds to repay existing debt, including commercial paper program borrowings and senior credit facility debt. Multiple financial institutions, led by BofA Securities, Wells Fargo Securities, and J.P. Morgan Securities, are serving as joint book-running managers for the offering.
Quanta Services (NYSE: PWR) ha annunciato il prezzo della sua offerta di obbligazioni senior per un totale di 1,5 miliardi di dollari suddivisi in tre tranche. L'offerta comprende 500 milioni di dollari di obbligazioni al 4,300% con scadenza 2028, 500 milioni di dollari al 4,500% con scadenza 2031 e 500 milioni di dollari al 5,100% con scadenza 2035.
Le obbligazioni sono state valutate rispettivamente al 99,963%, 99,731% e 99,705% del valore nominale. La chiusura dell'offerta è prevista per il 7 agosto 2025. Quanta intende utilizzare i proventi per rimborsare il debito esistente, inclusi i prestiti del programma di commercial paper e il debito della linea di credito senior. Diverse istituzioni finanziarie, guidate da BofA Securities, Wells Fargo Securities e J.P. Morgan Securities, agiscono come joint book-running managers dell'offerta.
Quanta Services (NYSE: PWR) ha anunciado el precio de su oferta de bonos senior por un total de 1.500 millones de dólares divididos en tres tramos. La oferta incluye 500 millones de dólares en bonos al 4,300% con vencimiento en 2028, 500 millones de dólares al 4,500% con vencimiento en 2031 y 500 millones de dólares al 5,100% con vencimiento en 2035.
Los bonos se han valorado en un 99,963%, 99,731% y 99,705% del valor nominal respectivamente. Se espera que la oferta cierre el 7 de agosto de 2025. Quanta planea usar los ingresos para pagar la deuda existente, incluyendo préstamos del programa de papel comercial y deuda de la línea de crédito senior. Varias instituciones financieras, lideradas por BofA Securities, Wells Fargo Securities y J.P. Morgan Securities, actúan como gestores conjuntos del libro de órdenes de la oferta.
Quanta Services (NYSE: PWR)가 � 15� 달러 규모� 선순� 채권 발행 가격을 발표했습니다. 이번 발행은 � 가지 트랜치로 구성되며, 각각 2028� 만기 4.300% 채권 5� 달러, 2031� 만기 4.500% 채권 5� 달러, 2035� 만기 5.100% 채권 5� 달러입니�.
채권 가격은 각각 액면가� 99.963%, 99.731%, 99.705%� 책정되었습니�. 발행은 2025� 8� 7�� 마감� 예정입니�. Quanta� 조달 자금� 기존 부� 상환, 상업어음 프로그램 차입� � 선순� 신용 시설 부� 상환� 사용� 계획입니�. BofA Securities, Wells Fargo Securities, J.P. Morgan Securities가 공동 주간사로 참여하여 발행� 주관하고 있습니다.
Quanta Services (NYSE: PWR) a annoncé le prix de son émission d'obligations senior totalisant 1,5 milliard de dollars répartis en trois tranches. L'offre comprend 500 millions de dollars d'obligations à 4,300% échéance 2028, 500 millions de dollars à 4,500% échéance 2031, et 500 millions de dollars à 5,100% échéance 2035.
Les obligations sont cotées respectivement à 99,963%, 99,731% et 99,705% de leur valeur nominale. La clôture de l'offre est prévue pour le 7 août 2025. Quanta prévoit d'utiliser les fonds pour rembourser sa dette existante, incluant les emprunts du programme de billets de trésorerie et la dette de la facilité de crédit senior. Plusieurs institutions financières, dirigées par BofA Securities, Wells Fargo Securities et J.P. Morgan Securities, agissent en tant que co-chefs de file pour cette émission.
Quanta Services (NYSE: PWR) hat die Preisfestsetzung für seine Senior-Notes-Emission in Höhe von insgesamt 1,5 Milliarden US-Dollar in drei Tranchen bekannt gegeben. Das Angebot umfasst 500 Millionen US-Dollar 4,300% Notes mit Fälligkeit 2028, 500 Millionen US-Dollar 4,500% Notes mit Fälligkeit 2031 und 500 Millionen US-Dollar 5,100% Notes mit Fälligkeit 2035.
Die Anleihen wurden jeweils zu 99,963%, 99,731% und 99,705% des Nennwerts bepreist. Der Abschluss der Emission wird für den 7. August 2025 erwartet. Quanta plant, die Erlöse zur Rückzahlung bestehender Verbindlichkeiten, einschließlich der Commercial-Paper-Programmkredite und der Senior-Kreditfazilität, zu verwenden. Mehrere Finanzinstitute, angeführt von BofA Securities, Wells Fargo Securities und J.P. Morgan Securities, fungieren als gemeinsame Bookrunner der Emission.
- Substantial debt refinancing opportunity through $1.5 billion total offering
- Diversified maturity profile with three different tranches (2028, 2031, and 2035)
- Strong syndicate of major financial institutions supporting the offering
- Additional interest expense from new notes ranging from 4.300% to 5.100%
- Notes priced slightly below face value, indicating modest discount to attract investors
Insights
Quanta Services raises $1.5B through multi-tranche bond offering to refinance existing debt, potentially improving its debt structure.
Quanta Services has successfully priced a $1.5 billion senior notes offering structured across three tranches with different maturities and interest rates. The offering includes
The pricing structure reveals a typical yield curve with longer maturities commanding higher interest rates. The slight discount to face value (ranging from
Importantly, Quanta plans to use the proceeds to repay existing indebtedness, including commercial paper and senior credit facility borrowings. This refinancing approach suggests the company is engaging in liability management to potentially extend debt maturities and optimize its capital structure. Rather than increasing its debt burden, Quanta appears to be restructuring existing obligations.
The company has assembled different syndicates of investment banks for each tranche, potentially to leverage specific institutional relationships and distribution capabilities. Major financial institutions like Bank of America, Wells Fargo, and JPMorgan are leading all three tranches, indicating strong banking relationships and market confidence in Quanta's credit profile.
The transaction is expected to close on August 7, 2025, subject to customary conditions. This debt refinancing should be viewed as routine capital management rather than a signal of any operational changes or expansion plans.
BofA Securities, Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc., BMO Capital Markets Corp. and
The Offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the
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 offer, solicitation or sale of the Notes 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 is an industry leader in providing specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy, technology and communications infrastructure. With operations throughout
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 and Quanta's intended use of proceeds therefrom, 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 December 31, 2024, Quanta's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025 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 atwww.quantaservices.comor through EDGAR atwww.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.
Investors: | Media: | |
Kip Rupp, CFA, IRC | Noa Schwartz | |
Sean Eastman | FGS Global | |
Quanta Services, Inc. | (310)405-4312 | |
(713)341-7260 |
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