
Description	Maturity Date	June 30, 2026		December 31, 2025
Senior credit facility:	June 26, 2030
Revolving loans		$	475.8	$	118.0
4.500% Senior Notes	August 15, 2028	600.0		600.0
5.900% Senior Notes	June 15, 2029	550.0		550.0
6.625% Senior Notes	August 15, 2029	72.7		72.3
2025 Term Loan Facility	June 26, 2028	600.0		600.0
Finance lease and other obligations		454.4		405.3
Total debt obligations		$	2,752.9	$	2,345.6
Less unamortized deferred financing costs		(12.7)		(14.9)
Total debt, net of deferred financing costs		$	2,740.2	$	2,330.7
Current portion of long-term debt		166.4		154.3
Long-term debt		$	2,573.8	$	2,176.4

The Company maintains a senior unsecured credit facility (the “Credit Facility”), which is composed of revolving commitments and matures on June 26, 2030. On July 7, 2026, the Credit Facility was amended to increase the aggregate revolving commitments from $1.9 billion to $2.25 billion. The other terms and conditions of the Credit Facility remain unchanged. Concurrent with the closing of the Superior acquisition, the Company borrowed $600 million under the Credit Facility, approximately $580 million of which was used to finance a portion of the cash consideration for the acquisition and related transactions and financing costs, with the remainder used for other working capital purposes.

As of June 30, 2026 and December 31, 2025, outstanding revolving loans accrued interest at weighted average rates of approximately 4.78% and 4.56% per annum, respectively, and included $45.8 million and $43.0 million, respectively, of borrowings denominated in Canadian dollars. Letters of credit of approximately $55.8 million and $57.1 million were issued as of June 30, 2026 and December 31, 2025, respectively. As of both June 30, 2026 and December 31, 2025, letter of credit fees accrued at 0.4375% per annum for performance standby letters of credit, and at 1.250% per annum for financial standby letters of credit. Outstanding letters of credit mature at various dates and most have automatic renewal provisions, subject to prior notice of cancellation.

As of June 30, 2026 and December 31, 2025, availability for revolving loans totaled $1,368.5 million and $1,724.9 million, respectively, or up to $694.2 million and $692.9 million, respectively, for new letters of credit. Revolving loan borrowing capacity included $254.2 million and $257.0 million of availability in either Canadian dollars or Mexican pesos as of June 30, 2026 and December 31, 2025, respectively. The unused facility fee as of both June 30, 2026 and December 31, 2025 accrued at rates of 0.175% per annum.

As of both June 30, 2026 and December 31, 2025, the gross carrying amount of the Company’s 4.500% senior notes due August 15, 2028 (the “4.500% Senior Notes”) totaled $600.0 million, and their estimated fair value totaled approximately $593.8 million and $595.7 million, respectively. As of both June 30, 2026 and December 31, 2025, the gross carrying amount of the Company’s 5.900% senior notes due June 15, 2029 (the “5.900% Senior Notes”) totaled $550.0 million, and their estimated fair value totaled approximately $565.1 million and $574.1 million, respectively. As of June 30, 2026 and December 31, 2025, the gross carrying amount of the Company’s 6.625% senior notes due August 15, 2029 (the “6.625% Senior Notes”) totaled $72.7 million and $72.3 million, respectively, and their estimated fair value approximated their carrying value for both respective periods. As of June 30, 2026 and December 31, 2025, the estimated fair values of the Company’s senior notes were determined based on an exit price approach using Level 2 inputs.

The Company maintains a $600 million senior unsecured term loan facility (the “2025 Term Loan Facility”) that matures on June 26, 2028. Borrowings under the 2025 Term Loan Facility are not subject to amortization and are not guaranteed by, or secured by any assets of, the Company or any of its subsidiaries. As of both June 30, 2026 and December 31, 2025, the Company had $600 million outstanding under the 2025 Term Loan Facility and accrued interest at rates of 4.77% and 4.85%, respectively.

On July 7, 2026, the Company entered into a new senior unsecured delayed draw term loan agreement (the “2026 Term Loan Facility”), providing $700 million in delayed draw term loan commitments (the “Term Loan Commitments”), consisting of $400 million of three-year commitments (the “Three-Year Tranche”) and $300 million of four-year commitments (the “Four-Year Tranche”). The Term Loan Commitments were fully drawn in July 2026, and were used to finance a portion of the cash consideration for the acquisition of Superior and related transaction and financing costs. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets, Net for additional information. The Three-Year Tranche will mature on July 20, 2029 and the Four-Year Tranche will mature on July 19, 2030. Loans under the Three-Year Tranche are not subject to amortization. Loans under the Four-Year Tranche will be amortized in quarterly principal installments of $3.75 million commencing on December 31, 2027 and will increase to $7.5 million on December 31, 2028, until maturity, subject to the application of certain prepayments.

Outstanding loans under the Three-Year Tranche bear interest, at the Company’s option, at a rate equal to either (a) Term Secured Overnight Financing Rate (“SOFR”), as defined in the 2026 Term Loan Facility, plus a margin of 1.000% to 1.500%, or (b) Base Rate, as defined below, plus a margin of up to 0.500%. Outstanding loans under the Four-Year Tranche bear interest, at the Company’s option, at a rate equal to either (a) Term SOFR plus a margin of 1.125% to 1.625%, or (b) Base Rate, plus a margin of 0.125% to 0.625%. The Base Rate equals the highest of (i) the Federal Funds Rate, as defined in the 2026 Term Loan Facility, plus 0.50%, (ii) Bank of America’s prime rate, and (iii) Term SOFR plus 1.00%. In each of the foregoing cases, the applicable margin is based on the Company’s Consolidated Leverage Ratio and Debt Rating, each as defined in the 2026 Term Loan Facility, as of the most recent fiscal quarter. The Company must also pay ticking fees at a rate of 0.175% on any undrawn commitments under the 2026 Term Loan Facility.

The obligations under the 2026 Term Loan Facility are not guaranteed and are not secured by any assets of the Company or any of its subsidiaries. The 2026 Term Loan Facility contains affirmative and negative covenants that, among other things, limit the Company’s ability to engage in certain activities, including, but not limited to, acquisitions, mergers and consolidations, debt incurrence, investments, asset sales and lien incurrence. In addition, 2026 Term Loan Facility provides for customary events of default and carries cross-default provisions with the Company’s other significant debt instruments, including the Company’s indemnity agreement with its surety provider, as well as customary remedies, including the acceleration of repayment of outstanding amounts. The 2026 Term Loan Facility requires the Company to maintain a Consolidated Leverage Ratio, as defined in the 2026 Term Loan Facility of not more than 3.50:1.00 as of the end of any fiscal quarter (except that, subject to certain conditions, if a permitted acquisition or series of permitted acquisitions having consideration exceeding $200 million occurs, such ratio is increased to 4.00:1.00 for the fiscal quarter in which the acquisition is completed and the four subsequent fiscal quarters). For purposes of calculating the Consolidated Leverage Ratio, funded indebtedness excludes undrawn standby performance letters of credit included in the calculation of Consolidated Funded Indebtedness, as defined in the 2026 Term Loan Facility.

The Company’s outstanding debt instruments are subject to certain provisions and covenants, as more fully described in Note 8 – Debt in the Company’s 2025 Form 10-K. MasTec was in compliance with the provisions and covenants of its outstanding debt instruments as of both June 30, 2026 and December 31, 2025.

As of June 30, 2026 and December 31, 2025, accrued interest payable, which is recorded within other accrued expenses in the consolidated balance sheets, totaled $15.9 million and $16.0 million, respectively. For additional information pertaining to the Company’s debt instruments, see Note 8 – Debt in the Company’s 2025 Form 10-K.