CORAL GABLES, Fla., March 6, 2013 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced the pricing of its public offering of $400,000,000 aggregate principal amount of senior notes due 2023. The senior notes will pay interest semi-annually at a rate of 4.875% and will mature on March 15, 2023. The senior notes were offered to investors at par. The senior notes will be MasTec's senior unsecured unsubordinated obligations and will rank equally in right of payment with any existing and future unsubordinated debt, and senior in right of payment to any existing and future subordinated debt. The senior notes will be effectively junior to MasTec's secured debt, including MasTec's existing credit facility, to the extent of the value of the assets securing that debt. The senior notes will be guaranteed on an unsecured unsubordinated basis by MasTec's domestic subsidiaries that guarantee MasTec's existing credit facility. MasTec intends to use a portion of the net proceeds from the senior notes offering to fund the repurchase of MasTec's $150 million aggregate principal amount of its 7.625% senior notes due 2017 pursuant to MasTec's previously announced tender offer and consent solicitation, to fund the redemption of any such notes not tendered in the tender offer and to repay the outstanding balance under MasTec's existing credit facility. MasTec expects to use the remaining net proceeds for working capital and other general corporate purposes. Pending such usage, MasTec expects to invest the proceeds in short term instruments. MasTec expects to close the senior notes offering on March 18, 2013, subject to customary conditions, but closing is not contingent on the successful completion of the tender offer. Barclays, Morgan Stanley and SunTrust Robinson Humphrey are acting as joint book-running managers of the senior notes offering.