SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 14 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) February 3, 1998
MASTEC, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-3797 59-1259279
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State of Other Jurisdiction (Commission (IRS Employer
Of Incorporation) File Number) Identification No.)
3155 N.W. 77th Avenue, Miami, Florida 33122-1205
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Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (305) 599-1800
N/A
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(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 5. Other Events
On February 3, 1998, MasTec, Inc. announced the sale of $200 million in
senior subordinated notes due in 2008 with a coupon rate of 7 3/4 percent. The
notes, that were sold in a private placement with registration rights, will
yield a 7.77 percent discount to investors. The offering was increased from
$150 million to take advantage of attractive interest rates and proceeds will be
used for general corporate purposes, including acquisitions, working capital and
capital expenditures.
On February 6, 1998, MasTec, Inc. announced the acquisition of
Phasecom Systems, Inc. of Toronto, Canada, a telecommunications infrastructure
services provider in Ontario, Alberta and Saskatchewan, Canada and in Buffalo,
New York and New Orleans, Louisiana.
The Company has issued press releases announcing the foregoing events,
copies of which are attached as exhibits 99.1 and 99.2 which are incorporated
herein by reference.
Item 7. Financial Statements and Exhibits.
(c)
99.1 Press release dated February 3, 1998.
99.2 Press release dated February 6, 1998.
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: February 20, 1998. /s/ Edwin D. Johnson
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Edwin D. Johnson
Senior Vice President-
Chief Financial Officer
(Principal Financial Officer
and Authorized Officer)
NEWS
For Immediate Release From MasTec, Inc.
February 3, 1998 3155 N.W. 77th Avenue, Suite 135
Miami, Florida 33122-1205
Tel : (305) 599-1800
Fax : (305) 406-1908
For more information contact:
Edwin D. Johnson,
Chief Financial Officer
[email protected]
MASTEC, INC. RAISES $200 MILLION IN SUBORDINATED DEBT
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today that it has sold $200
million in senior subordinated notes due in 2008 with a coupon rate of 7 3/4
percent. The notes have been sold at a discount to yield 7.77 percent to
investors. The offering was increased from $150 million to take advantage of
attractive interest rates and proceeds will be used for general corporate
purposes, including acquisitions, working capital and capital expenditures. The
notes were sold in a private placement with registration rights.
Jorge Mas, Chairman and Chief Executive Officer, said: "We were very pleased
with the reception of the investment community to our note offering, which has
galvanized us to continue our growth strategy. Our position as the principal
consolidator in a fragmented industry, coupled with strong access to capital,
provides us with a unique opportunity for expansion and enhancement of
shareholder value."
Opening the Lines of Communication(R) worldwide, MasTec is one of the world's
leading telecommunications and related infrastructure service providers, serving
clients throughout the United States, Latin America and Spain. For more
information, please visit our web site at www.mastec.com.
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NEWS
For Immediate Release From MasTec, Inc.
February 6, 1998 3155 N.W. 77th Avenue, Suite 135
Miami, Florida 33122-1205
Tel : (305) 599-1800
Fax : (305) 406-1908
For more information contact:
Edwin D. Johnson,
Chief Financial Officer
[email protected]
MASTEC, INC. ANNOUNCES ACQUISITION OF PHASECOM SYSTEMS
MIAMI, FL - MasTec, Inc. (NYSE: MTZ) announced today the acquisition of Phasecom
Systems, Inc. of Toronto, Canada. Phasecom provides telecommunications
infrastructure services in Ontario, Alberta and Saskatchewan, Canada and in
Buffalo, New York and New Orleans, Louisiana.
Opening the Lines of Communication(R) worldwide, MasTec is one of the world's
leading telecommunications and related infrastructure service providers, serving
clients throughout the United States, Latin America and Spain. For more
information, please visit our web site at www.mastec.com.
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