MasTec Announces Significantly Expanded Bank Credit Facility

MasTec, Inc. MTZ today announced that it has entered into an agreement with a syndicate of 14 lenders, led by Bank of America, N.A., GE Capital Markets, Inc. and Sun Trust Robinson Humphrey, Inc., for an amended and restated senior secured revolving credit facility. The amendment expands the Company's existing credit facility from $260 million to $600 million and extends the maturity from May 2013 until August 2016. The amended credit facility includes more favorable interest rates, pricing, covenants and other improved terms. As of August 23, 2011, MasTec had approximately $20 million in outstanding loans and $100 million in letters of credit under the amended credit facility.