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MasTec Announces Expiration Of Tender Offer And Consent Solicitation For Senior Notes Due 2017

CORAL GABLES, Fla., March 29, 2013 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) — MasTec, Inc. (the "Company" or "MasTec") today announced the expiration and final results of its previously announced cash tender offer for any and all of its $150,000,000 outstanding principal amount of 7.625% Senior Notes due 2017 (the "Notes") and solicitation of consents from the holders (the "Holders") of the Notes to adopt certain amendments to the indenture governing the Notes (the "Indenture").  The tender offer expired pursuant to its terms at 11:59 P.M., Eastern Time, on March 28, 2013 (the "Expiration Time").

On March 18, 2013 (the "Initial Payment Date"), MasTec made a payment in cash for all Notes tendered prior to 5:00 P.M., Eastern Time, on March 14, 2013 (the "Early Tender Deadline").  As of the Early Tender Deadline, MasTec had received tenders and consents in respect of $121,125,000 aggregate principal amount of the Notes, representing approximately 80.75% of the outstanding aggregate principal amount of the Notes, all of which were accepted for purchase.  The Holders of the accepted Notes received total consideration of $1,027.92 per $1,000 principal amount of Notes tendered, which amount included an early tender payment of $30.00 per $1,000 principal amount of Notes tendered.  Holders whose tendered Notes were accepted for purchase also received accrued and unpaid interest from, and including, the most recent interest payment date for the Notes, to, but not including, the Initial Payment Date.

As of the Early Tender Deadline, MasTec also received consents from Holders representing approximately 80.75% of the aggregate principal amount outstanding of the Notes, a sufficient number of consents to effect the proposed amendments to the Indenture.  On the Initial Payment Date, MasTec and the guarantors party to the Indenture entered into a supplemental indenture effecting the proposed amendments with respect to the Notes.

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