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Casella Waste Systems, Inc. Announces Pricing of Remarketed Finance Authority of Maine Solid Waste Disposal Revenue Bonds
Globenewswire· 2025-07-31 22:57
Core Viewpoint - Casella Waste Systems, Inc. is proceeding with the remarketing of $29.0 million of Solid Waste Disposal Revenue Bonds, with a new interest rate of 5.000% per annum, effective August 1, 2025 [1][2] Group 1: Bond Details - The original aggregate principal amount of the Bonds was $30.0 million, with a final maturity date of August 1, 2035 [1] - Casella plans to redeem $1.0 million of the Bonds on August 1, 2025, using cash on hand [1] - The remarketing of the remaining $29.0 million will occur on August 1, 2025, and the new bonds will be designated as Series 2015R-3 [1] Group 2: Guarantee and Payment Structure - The Bonds and Remarketed Bonds are guaranteed by all or substantially all of Casella's subsidiaries [2] - These Bonds are not a general obligation of the Issuer and are payable solely from amounts received from Casella under the terms of the Indenture [2] Group 3: Regulatory and Offering Information - The Remarketed Bonds are being offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933 [3] - The Remarketed Bonds have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption [3]
Casella Waste Systems, Inc. Announces Remarketing of Finance Authority of Maine Solid Waste Disposal Revenue Bonds
Globenewswire· 2025-07-17 20:05
Core Viewpoint - Casella Waste Systems, Inc. is initiating the remarketing of $29.0 million of Solid Waste Disposal Revenue Bonds, with a redemption of $1.0 million expected on August 1, 2025, and the remaining bonds to be remarketed on the same date [1][2]. Group 1: Bond Details - The total principal amount of the Bonds originally issued was $30.0 million, with a final maturity date of August 1, 2035 [2]. - The interest rate periods for the Bonds are set to expire on July 31, 2025, leading to a mandatory tender and remarketing at a new interest rate starting August 1, 2025 [2]. - The Bonds are guaranteed by substantially all of Casella's subsidiaries and are not a general obligation of the Issuer, meaning they are payable solely from amounts received from Casella [2][3]. Group 2: Remarketing Process - The Remarketed Bonds will be offered exclusively to qualified institutional buyers as defined under Rule 144A of the Securities Act [3]. - The timing and interest rate for the remarketing will depend on market conditions, with no assurance that the remarketing or redemption will be completed [3].