Casella Waste Systems Prices Remarketing of $15M Bonds

By Greg Peters • Wednesday, May 27 14:57 • Permanent Link

Casella Waste Systems said it has priced the remarketing of $15.0 million of New York State Environmental Facilities Corporation solid waste disposal revenue bonds tied to its project.

The company said the bonds, originally issued in 2014 and drawn down in 2016, carry a final maturity date of Dec. 1, 2044. The current interest-rate period ends May 31, 2026, which triggers a mandatory tender on June 1, 2026.

Casella expects the bonds to be remarketed on June 1 at a new interest rate of 4.300% for a new rate period running from June 1, 2026, through June 1, 2036. The remarketing is expected to take effect the same day.

The bonds are guaranteed by all or substantially all of Casella’s subsidiaries under the loan structure supporting the issue. The market has reacted to these announcements by moving the company's shares -0.22% to a price of $87.22. For the full picture, make sure to review CASELLA WASTE SYSTEMS INC's 8-K report.

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