Casella Waste Systems, Inc. Announces Pricing of Up to $45.0 Million of Finance Authority of Maine Solid Waste Disposal Revenue Bonds
Casella Waste Systems (NASDAQ:CWST) has announced the pricing of up to $45.0 million Finance Authority of Maine Solid Waste Disposal Revenue Bonds. The bonds will carry a 4.625% annual interest rate through June 1, 2035, and will mature on December 1, 2047.
The bonds will be guaranteed by substantially all of Casella's subsidiaries and are expected to close on December 23, 2024. The proceeds will be used to fund qualifying capital projects in Maine, cover issuance costs, and refinance the Authority's 2005 Series bonds due January 2025.
The bonds will be offered exclusively to qualified institutional buyers under Rule 144A and will not constitute indebtedness of the Authority or the State of Maine.
Casella Waste Systems (NASDAQ:CWST) ha annunciato la determinazione del prezzo fino a $45,0 milioni di obbligazioni di ricavo per smaltimento rifiuti solidi emesse dalla Finance Authority del Maine. Le obbligazioni avranno un tasso d’interesse annuale del 4,625% fino al 1° giugno 2035 e scadranno il 1° dicembre 2047.
Le obbligazioni saranno garantite da gran parte delle sussidiarie di Casella e si prevede che la chiusura avvenga il 23 dicembre 2024. I proventi saranno utilizzati per finanziare progetti capitali idonei nel Maine, coprire i costi di emissione e rifinanziare le obbligazioni della Authority della serie 2005 in scadenza a gennaio 2025.
Le obbligazioni saranno offerte esclusivamente a compratori istituzionali qualificati ai sensi della Regola 144A e non costituiranno indebitamento dell'Authority o dello Stato del Maine.
Casella Waste Systems (NASDAQ:CWST) ha anunciado el precio de hasta $45.0 millones en bonos de ingresos por disposición de desechos sólidos de la Finance Authority de Maine. Los bonos tendrán una tasa de interés anual del 4.625% hasta el 1 de junio de 2035 y vencerán el 1 de diciembre de 2047.
Los bonos estarán garantizados por casi todas las subsidiarias de Casella y se espera que se cierren el 23 de diciembre de 2024. Los ingresos se utilizarán para financiar proyectos de capital elegibles en Maine, cubrir costos de emisión y refinanciar los bonos de la serie 2005 de la Authority que vencen en enero de 2025.
Los bonos se ofrecerán exclusivamente a compradores institucionales calificados bajo la Regla 144A y no constituirán una deuda de la Authority o del Estado de Maine.
카셀라 웨이스트 시스템즈 (NASDAQ:CWST)는 메인 재정청의 고형 폐기물 처리 수익 채권을 최대 $4500만으로 가격 책정했다고 발표했습니다. 이 채권은 2035년 6월 1일까지 연 이자율 4.625%를 유지하며 2047년 12월 1일에 만료됩니다.
채권은 카셀라의 대부분 자회사에 의해 보증되며 2024년 12월 23일에 종료될 것으로 예상됩니다. 수익금은 메인에서 자격이 있는 자본 프로젝트에 자금을 지원하고, 발행 비용을 충당하며, 2025년 1월 만기인 Authority의 2005년 시리즈 채권을 재정리하는 데 사용될 것입니다.
채권은 규칙 144A에 따라 자격이 있는 기관 구매자에게만 독점적으로 제공되며, Authority 또는 메인주 빚이 되지 않습니다.
Casella Waste Systems (NASDAQ:CWST) a annoncé le tarif allant jusqu'à $45,0 millions d'obligations de revenus liées à l'élimination des déchets solides de la Finance Authority du Maine. Les obligations porteront un taux d'intérêt annuel de 4,625% jusqu'au 1er juin 2035 et arriveront à échéance le 1er décembre 2047.
Les obligations seront garanties par presque toutes les filiales de Casella et devraient être clôturées le 23 décembre 2024. Les fonds seront utilisés pour financer des projets d'investissement admissibles dans le Maine, couvrir les coûts d'émission et refinancer les obligations de la série 2005 de l'Autorité qui arrivent à échéance en janvier 2025.
Les obligations seront exclusivement offertes aux acheteurs institutionnels qualifiés en vertu de la règle 144A et ne constitueront pas une dette de l'Autorité ou de l'État du Maine.
Casella Waste Systems (NASDAQ:CWST) hat die Preisgestaltung für bis zu $45,0 Millionen an Einnahmenanleihen zur Entsorgung von festen Abfällen der Finance Authority von Maine bekannt gegeben. Die Anleihen tragen einen jährlichen Zinssatz von 4,625% bis zum 1. Juni 2035 und laufen am 1. Dezember 2047 aus.
Die Anleihen werden von nahezu allen Tochtergesellschaften von Casella garantiert und sollen am 23. Dezember 2024 geschlossen werden. Die Erlöse werden verwendet, um förderfähige Investitionsprojekte in Maine zu finanzieren, Emissionskosten zu decken und die Anleihen der Serie 2005 der Authority, die im Januar 2025 fällig werden, zu refinanzieren.
Die Anleihen werden ausschließlich an qualifizierte institutionelle Käufer gemäß Regel 144A angeboten und stellen keine Schulden der Authority oder des Bundesstaates Maine dar.
- Secured $45.0 million in financing through bond issuance
- Fixed interest rate of 4.625% locked in until June 2035
- Refinancing of existing 2005 bonds indicates successful debt management
- Additional debt obligation through new bond issuance
- to qualified institutional buyers, restricting potential investor base
Insights
RUTLAND, Vt., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (“Casella”) (NASDAQ:CWST), a regional solid waste, recycling and resource management services company, today announced that it has priced the previously announced offering of up to
During the initial fixed rate interest period through June 1, 2035, the interest rate on the Bonds will be
There can be no assurance that all approvals with respect to the Bonds will be received, that all other conditions to the issuance of the Bonds will be satisfied or that the issuance of the Bonds will be completed.
The Bonds will not be a general obligation of the Authority and will not constitute indebtedness of or a charge against the general credit of the Authority. The Bonds will not be a debt of the State of Maine or a political subdivision of the State of Maine and will be payable solely from any remarketing proceeds and from amounts received from Casella under the terms of the Financing Agreement and from the Guarantors under the Guaranty.
The Bonds are being offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Bonds have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Bonds, nor shall there be any sale of the Bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Safe Harbor Statement
Certain matters discussed in this press release, including, among others, the statements regarding the offering of the Bonds and Casella’s expectations regarding the use of proceeds of the Bonds (including to refinance the 2005 Bonds), are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as “believe,” “expect,” “anticipate,” “plan,” “may,” “will,” “would,” “intend,” “estimate,” “guidance” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which Casella operates and management’s beliefs and assumptions. Casella cannot guarantee that the offering of the Bonds will be completed, that the Bond proceeds will be available or applied as expected or that it actually will achieve the plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in Casella’s forward-looking statements. Such risks and uncertainties include or relate to, among other things: market conditions and Casella’s ability to consummate the closing of the offering of the Bonds on the anticipated terms, or at all, as well as additional risks and uncertainties detailed in Item 1A, “Risk Factors” in Casella’s Form 10-K for the fiscal year ended December 31, 2023, in Item 1A, “Risk Factors” in Casella’s most recently filed Form 10-Q and in other filings that Casella periodically makes with the Securities and Exchange Commission. There can be no assurance that Casella will be able to complete the closing of the offering of the Bonds on the anticipated terms, or at all. Casella undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investors:
Jason Mead
Senior Vice President of Finance & Treasurer
(802) 772-2293
Media:
Jeff Weld
Vice President of Communications
(802) 772-2234
http://www.casella.com
FAQ
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