Quanta Services (PWR) has shared an update.
Quanta Services, Inc. secured a 90-day senior unsecured loan of $400 million to partially fund its acquisition of Cupertino Electric, Inc., a company specializing in electrical infrastructure. The interest rates on this loan are variable, based on Term SOFR or the Base Rate with an option for early repayment. Following the acquisition, Quanta issued shares and paid cash as merger consideration, and additional contingent payments are possible if financial targets are met. This strategic move aims to enhance Quanta’s services in the technology, renewable energy, and commercial sectors.
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