Casella Waste Systems, Inc. Announces Pricing of Remarketed Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds
September 25, 2019 at 01:18 pm EDT
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Casella Waste Systems, Inc. has priced the previously announced remarketing of $11.0 million aggregate principal amount of the Business Finance Authority of the State of New Hampshire (the “Authority”) Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2013 (the “Bonds”). The Bonds will bear interest at a rate of 2.95% from October 1, 2019 through final maturity. The Bonds were originally issued on April 4, 2013 and have a final maturity date of April 1, 2029. Pursuant to the indenture under which the Bonds were offered, the interest rate period under which the Bonds were previously issued is expiring on October 1, 2019, and accordingly, the Bonds will be remarketed at a new interest rate for a new interest rate period. The Bonds are guaranteed by all or substantially all of Casella’s subsidiaries, as required pursuant to the terms of the indenture. The Bonds are not a general obligation of the Authority, nor are they a debt or pledge of the faith and credit of the State of New Hampshire, and are payable solely from amounts received from Casella under the indenture. Casella has issued a notice of a mandatory tender for the Bonds with respect to the expiring interest rate period. The remarketing is expected to occur on October 1, 2019.
Casella Waste Systems, Inc. is a regional, vertically integrated solid waste services company. The Company manages its solid waste operations on a geographic basis through three regional operating segments: the Eastern, Western and Mid-Atlantic regions. It manages its resource renewal operations through the Resource Solutions operating segment, which leverages its core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver a solution for its commercial, municipal, institutional and industrial customers. It operates approximately 64 solid waste collection operations, 71 transfer stations, 29 recycling and processing facilities, eight Subtitle D landfills, three landfill gas-to-energy facilities and one landfill permitted to accept construction and demolition materials. It provides integrated solid waste services in Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine, Pennsylvania, Delaware and Maryland.
Casella Waste Systems, Inc. Announces Pricing of Remarketed Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds