MasTec Announces Expanded Bank Credit Facility

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MasTec Inc., a contractor whose specialties include wind and solar projects, has entered into an agreement with a syndicate of 14 lenders, led by Bank of America NA, GE Capital Markets Inc. and Sun Trust Robinson Humphrey Inc., for an amended and restated senior secured revolving credit facility.

The amendment expands the MasTec's existing credit facility from $260 million to $600 million and extends the maturity from May 2013 to August 2016. The amended credit facility includes more favorable interest rates, pricing, covenants and other improved terms. As of Aug. 23, MasTec had approximately $20 million in outstanding loans and $100 million in letters of credit under the amended credit facility.

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