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MasTec Prices Note Offering At $100 Million

Stock quotes in this article: MS , MTZ  

CORAL GABLES, Fla. (AP) — Industrial contractor MasTec Inc. said Tuesday it has priced a convertible note offering of common stock at $100 million to be used for working capital, possible acquisitions and general corporate purposes.

Its shares fell $1.44, or 10.8 percent, to $11.93 in premarket trading.

The Coral Gables, Fla., company said it has granted underwriters an option to purchase up to $15 million more shares to cover over-allotments, if any. The convertible notes will pay interest of 4 percent semiannually and mature on June 15, 2014, unless repurchased or converted. ...

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