Casella Waste Systems, Inc. Announces Pricing of Notes Offering
January 27 2011 - 6:30AM
Marketwired
Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste,
recycling and resource management services company, announced today
that it has priced the previously announced offering of $200
million aggregate principal amount of 7.75% senior subordinated
notes due 2019 (the "Notes"). The issuance of the Notes is
anticipated to close on February 7, 2011. The Notes will pay
interest on a semi-annual basis.
Casella intends to use the net proceeds from the offering,
together with other available funds, to refinance its 9.75% senior
subordinated notes due 2013, of which $195,000,000 aggregate
principal amount is outstanding, and to pay related transaction
costs.
The Notes are being sold in a private placement to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act") and to non-U.S. persons
outside the United States under Regulation S under the Securities
Act.
The Notes have not been registered under the Securities Act, and
unless so registered, may not be offered or sold in the United
States absent registration or an applicable exemption from, or in a
transaction not subject to, 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 Notes, nor shall there be any
sale of the Notes 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.
About Casella Waste Systems, Inc.
Casella Waste Systems is an integrated solid waste and resource
management company headquartered in Rutland, Vermont. For further
information, investors should contact Ned Coletta, director of
investor relations at (802) 772-2239, or Ed Johnson, chief
financial officer at (802) 772-2241.
Safe Harbor Statement
Some of the statements in this press release 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 Casella "anticipates," "plans," "will,"
"intends," "estimates" and other similar expressions. Among the
forward looking statements in this press release are statements
regarding the closing of the offering of the Notes and the intended
use of the proceeds from the Note offering. All of these
forward-looking statements are based on current expectations and
estimates and management's beliefs and assumptions. Casella cannot
guarantee that it will complete the offering on the terms disclosed
in the forward-looking statements or at all. Such forward-looking
statements involve a number of risks and uncertainties, including,
among other things, market conditions and Casella's ability to
consummate the issuance of the Notes. Casella does not necessarily
intend to update publicly any forward-looking statements whether as
a result of new information, future events or otherwise, except as
required.
Ned Coletta 802-772-2239 Ed Johnson 802-772-2241
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