Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 230

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 230
---
 which approximated their carrying value.  The 6.625% MasTec Senior Notes are subject to certain provisions and covenants, as more fully described in Note 7 - Debt in the notes to the audited consolidated financial statements, which is incorporated by reference.

Five-Year Term Loan Facility

As of December 31, 2024, we had $285 million outstanding of an unsecured five-year term loan (the “Five-Year Term Loan”) that is due October 7, 2027.  The Five-Year Term Loan is subject to certain provisions and covenants, as more fully described in Note 7 - Debt in the notes to the audited consolidated financial statements, which is incorporated by reference.

Debt Covenants

We were in compliance with the provisions and covenants contained in our outstanding debt instruments as of December 31, 2024, and we expect to be in compliance with these provisions and covenants for the next twelve months.

Additional Information

For detailed discussion and additional information pertaining to our debt instruments, including current period balances and rates of interest, see Note 7 - Debt in the notes to the audited consolidated financial statements, which is incorporated by reference.

Contractual Payment Obligations

The following table sets forth our contractual payment obligations as of December 31, 2024 during the periods indicated below (in millions): 

Contractual Obligations TotalLess than1 Year1 - 3 Years3 - 5YearsMore than 5 Years and ThereafterSenior credit facility$375.6 $17.5 $358.1 $— $— 4.500% Senior Notes600.0 — — 600.0 — 5.900% Senior Notes550.0 — — 550.0 — 6.625% Senior Notes 71.6 — — 71.6 — Five-Year Term Loan Facility285.0 15.0 270.0 — — Finance lease and other obligations356.5 154.2 160.9 39.8 1.6 Operating lease liabilities448.7 161.4 199.7 53.1 34.5 Earn-out obligations (a)21.0 21.0 — — — Interest (b)382.9 117.7 192.0 73.2 — Total$