QUANTA SERVICES, INC.

7. DEBT OBLIGATIONS:

Quanta’s long-term debt obligations consisted of the following (in thousands):

Senior Notes

The interest amounts due on Quanta’s senior notes on each payment date are set forth below (dollars in thousands):

The fair value of Quanta’s senior notes was $4.48 billion as of March 31, 2026, compared to a carrying value of $4.71 billion net of unamortized bond discount, underwriting discounts and deferred financing costs of $38.4 million. The fair value of the senior notes is based on the quoted market prices for the same issue, and the senior notes are categorized as Level 1 liabilities.

Senior Credit Facility

As of March 31, 2026, the credit agreement for Quanta’s senior credit facility provided for a term loan facility with a maturity date of October 8, 2026, and aggregate revolving commitments of $2.80 billion, with a maturity date of July 31, 2030. Borrowings under the senior credit facility and the applicable interest rates were as follows (dollars in thousands):

As of March 31, 2026, Quanta was in compliance with all of the financial covenants under the credit agreement.

Term Loan. As of March 31, 2026, Quanta had $656.3 million outstanding under its term loan facility. The carrying amount of the term loan under Quanta’s senior credit facility approximates fair value due to its variable interest rate.

Revolving Loans. As of March 31, 2026, Quanta had $28.0 million of outstanding revolving loans under the senior credit facility, all of which were denominated in Canadian dollars. Available commitments for revolving loans under Quanta’s senior credit facility must be maintained to provide credit support for notes issued under Quanta’s commercial paper program, and therefore such notes effectively reduce the available capacity under its senior credit facility.

Letters of Credit. As of March 31, 2026, Quanta had $65.8 million of letters of credit issued under the senior credit facility, which were primarily denominated in U.S. dollars. Additionally, available commitments for revolving loans under the senior credit facility must be maintained in order to provide credit support for notes issued under Quanta’s commercial paper program, and therefore such notes effectively reduce the available borrowing capacity under the senior credit facility.

As of March 31, 2026, $2.45 billion remained available under the senior credit facility for new revolving loans, letters of credit and support of the commercial paper program.

Commercial Paper Program

As of March 31, 2026, Quanta had $252.0 million of outstanding unsecured notes under its commercial paper program with a weighted average maturity ofone day.

Borrowings under the commercial paper program and the applicable interest rates were as follows (dollars in thousands):

Additional Letters of Credit

As of March 31, 2026, Quanta had $738.4 million of letters of credit issued outside of its senior credit facility, which were primarily denominated in U.S. dollars.