Shearman And Sterling

News April 01, 2021

Dycom Industries’ $500 Million Senior Notes Offering and Amendment of its Senior Credit Facility

Shearman & Sterling represented Dycom Industries, Inc. in connection with its offering of $500 million aggregate principal amount of 4.5% Senior Notes due 2029. Concurrently with the notes offering, Shearman & Sterling represented Dycom on the amendment of its senior credit facility, which, among other things, extended the maturity date of the senior credit facility to April 2026.

Dycom used the net proceeds from the offering of the notes to repay term loan borrowings under the senior credit facility and borrowings under the revolving portion of the senior credit facility. Dycom expects to also use the net proceeds for the repayment in full of its outstanding 0.75% convertible senior notes due September 2021 and to utilize the remaining net proceeds for working capital and general corporate purposes.

Dycom is a leading provider of specialty contracting services throughout the United States.  These services include program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities.

The Shearman & Sterling team below also included law clerk Daniel Moon.

The Team