Clean Harbors Launches $600M Notes Offering

By Greg Peters • Friday, September 18 16:00 • Permanent Link

Clean Harbors said Sept. 17 it is launching a private offering of $600 million of senior notes due in 2034.

The company said it plans to use the proceeds to help finance its previously announced purchase of EnviroServe, a national environmental and waste management services provider. Any remaining proceeds would go toward repaying borrowings under its revolving credit facility used to partly fund the ES&H acquisition.

The notes offering comes as Clean Harbors is pursuing two acquisitions at once: EnviroServe and ES&H. The company said the note sale is not contingent on either deal closing. If either acquisition falls through, Clean Harbors said it would use the remaining proceeds for general corporate purposes.

Clean Harbors described the financing as a private placement to qualified institutional buyers and overseas investors. The company said the notes will not be registered under U.S. securities laws. Following these announcements, the company's shares moved -0.07%, and are now trading at a price of $315.335. Check out the company's full 8-K submission here.

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