Quanta Services Announces Pricing of Senior Notes Offering

Rhea-AI Summary

Quanta Services (NYSE: PWR) has announced the pricing of its senior notes offering totaling $1.5 billion across three tranches. The offering includes $500 million of 4.300% notes due 2028, $500 million of 4.500% notes due 2031, and $500 million of 5.100% notes due 2035.

The notes are priced at 99.963%, 99.731%, and 99.705% of face value respectively. The offering is expected to close on August 7, 2025. Quanta plans to use the proceeds to repay existing debt, including commercial paper program borrowings and senior credit facility debt. Multiple financial institutions, led by BofA Securities, Wells Fargo Securities, and J.P. Morgan Securities, are serving as joint book-running managers for the offering.

Positive

• Substantial debt refinancing opportunity through $1.5 billion total offering
• Diversified maturity profile with three different tranches (2028, 2031, and 2035)
• Strong syndicate of major financial institutions supporting the offering

Negative

• Additional interest expense from new notes ranging from 4.300% to 5.100%
• Notes priced slightly below face value, indicating modest discount to attract investors

News Market Reaction – PWR

-1.14%

1 alert

-1.14% News Effect

On the day this news was published, PWR declined 1.14%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, Aug. 4, 2025 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) ("Quanta") announced today the pricing of its offering (the "Offering") of (i) $500,000,000 aggregate principal amount of 4.300% senior notes due 2028 (the "2028 Notes") at a price to the public 99.963% of their face value, (ii) $500,000,000 aggregate principal amount of 4.500% senior notes due 2031 (the "2031 Notes") at a price to the public 99.731% of their face value, and (iii) $500,000,000 aggregate principal amount of 5.100% senior notes due 2035 (together with the 2028 Notes and the 2031 Notes, the "Notes") at a price to the public 99.705% of their face value. The Offering is expected to close on August 7, 2025, subject to the satisfaction of customary closing conditions. Quanta intends to use the net proceeds from the Offering to repay existing indebtedness, including borrowings incurred under its commercial paper program and its senior credit facility.

BofA Securities, Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc., BMO Capital Markets Corp. and U.S. Bancorp Investments, Inc. acted as joint book-running managers for the Offering with respect to the 2028 Notes, BofA Securities, Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc., BNP Paribas Securities Corp. and CIBC World Markets Corp. acted as joint book-running managers for the Offering with respect to the 2031 Notes and BofA Securities, Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc., Citizens JMP Securities, LLC and BBVA Securities Inc. acted as joint book-running managers for the Offering with respect to the 2035 Notes.

The Offering is being made pursuant to an effective shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission (the "SEC") on August 2, 2024, and only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and accompanying base prospectus relating to the Offering may be obtained from BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, Email: dg.prospectus_requests@bofa.com; Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attention: WFS Customer Service, Email: wfscustomerservice@wellsfargo.com or toll-free at 1-800-645-3751; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; PNC Capital Markets LLC, toll-free at 1-855-881-0697 or email: pnccmprospectus@pnc.com; and Truist Securities, Inc., Telephone 1-800 685-4786 or email TruistSecurities.prospectus@Truist.com. You may also obtain these documents free of charge by visiting the Electronic Data Gathering and Analysis Retrieval System (EDGAR) on the SEC's website at www.sec.gov.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any offer, solicitation or sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Quanta Services
Quanta is an industry leader in providing specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy, technology and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope.

Forward Looking Statements
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to the anticipated timing of the closing of the Offering and Quanta's intended use of proceeds therefrom, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements can be affected by inaccurate assumptions and by a variety of known and unknown risks and uncertainties that are difficult to predict or beyond Quanta's control, including, among others, those described in the prospectus supplement and accompanying base prospectus relating to the Offering and other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K for the year ended December 31, 2024, Quanta's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025 and any other documents that Quanta files with the SEC. For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through Quanta's website at www.quantaservices.com or through EDGAR at www.sec.gov. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made by any third party regarding the subject matter of this press release.

Investors:		Media:
Kip Rupp, CFA, IRC		Noa Schwartz
Sean Eastman		FGS Global
Quanta Services, Inc.		(310) 405-4312
(713) 341-7260

 

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SOURCE Quanta Services, Inc.

FAQ

What is the total size of Quanta Services (PWR) senior notes offering in 2025?

Quanta Services is offering $1.5 billion in senior notes, divided into three equal tranches of $500 million each.

What are the interest rates for Quanta Services' 2025 senior notes?

The notes carry interest rates of 4.300% for the 2028 notes, 4.500% for the 2031 notes, and 5.100% for the 2035 notes.

How will Quanta Services use the proceeds from the 2025 notes offering?

Quanta Services will use the net proceeds to repay existing indebtedness, including borrowings under its commercial paper program and senior credit facility.

When will Quanta Services' 2025 notes offering close?

The offering is expected to close on August 7, 2025, subject to customary closing conditions.

Which banks are managing Quanta Services' 2025 notes offering?

The offering is led by BofA Securities, Wells Fargo Securities, and J.P. Morgan Securities as joint book-running managers, along with several other financial institutions for different tranches.