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Casella Waste Systems, Inc. Announces Pricing of $25.0 Million of Remarketed New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2014
RUTLAND, Vt., Nov. 21, 2019 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (“Casella”) (NASDAQ: CWST), a regional solid waste, recycling and resource
About this update from Casella Waste Systems, Inc.
[{"type":"text","content":"RUTLAND, Vt., Nov. 21, 2019 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (“Casella”) (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, has priced the previously announced remarketing of $25.0 million aggregate principal amount of New York State Environmental Facilities Corporation (the “Issuer”) Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2014 (the “Bonds”). The Bonds were originally issued on December 18, 2014 as draw-down bonds and have a final maturity date of December 1, 2044. Pursuant to the indenture under which the Bonds were issued, the interest rate period under which the Bonds were previously issued is expiring on December 1, 2019, and accordingly, the Bonds will be remarketed on December 2, 2019 at the new interest rate of 2.875% per annum for the new interest rate period ending on December 2, 2029.\n The Bonds are guaranteed by all or substantially all of Casella’s subsidiaries, as required pursuant to the terms of the loan agreement pursuant to which the Issuer loaned the proceeds of the Bonds to Casella. The Bonds are not a general obligation of the Issuer and do not constitute an indebtedness of or a charge against the general credit of the Issuer. The Bonds are not a debt of the State of New York and are payable solely from amounts received from Casella under the terms of the indenture. 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 re...