MasTec announces results of early participation in tender offer

MasTec announced that IEA Energy Services LLC, a wholly owned subsidiary of MasTec, has received valid consents from holders of not less than a majority in principal amount of IEA’s 6.625% Senior Notes due 2029 sufficient to adopt the Proposed Amendments with respect to the IEA Notes Indenture pursuant to the previously announced cash tender offer for any and all outstanding IEA Notes and the related solicitation of consents from the Holders of the IEA Notes. The Tender Offer expires at 5:00 p.m., Eastern Time, on July 5, 2024. The consents received in the Consent Solicitation from the holders of a majority of the aggregate principal amount of the outstanding IEA Notes permit IEA to eliminate or modify certain of the covenants, restrictive provisions and events of default in the indenture, dated as of August 17, 2021, governing the IEA Notes. Accordingly, IEA will execute a supplemental indenture to the IEA Notes Indenture to effect the Proposed Amendments. Although the Supplemental Indenture will become effective upon execution thereof, the Proposed Amendments will not become operative unless and until the IEA Notes with respect to which the Requisite Consents have been delivered are paid for.