The offering is expected to close on September 22, 2020, subject to the satisfaction of customary closing conditions. The notes received investment grade credit ratings of BBB- from S&P Global Ratings and Baa3 from Moody’s Investors Service. Quanta intends to use the net proceeds from the offering, together with cash on hand or drawings under its existing credit agreement’s revolving credit facility, or a combination thereof, if necessary, to repay the term loans under its existing credit agreement.
