CTBH Partners Announces Successful Remarketing of $11.0 million of Solid Waste Industrial Revenue Bonds for Casella Waste Sys...
October 02 2019 - 7:30AM
CTBH Partners LLC (“CTBH”) is pleased to announce the closing of
$11.0 million tax-exempt solid waste industrial revenue bonds for
its client, Casella Waste Systems, Inc. (“Casella”) (Nasdaq: CWST).
As financial advisor to the borrower, CTBH represented Casella in
the remarketing of its Business Finance Authority of the State of
New Hampshire (the “Authority”) Solid Waste Disposal Revenue Bonds
(Casella Waste Systems, Inc. Project) Series 2013 (the “Bonds”).
The Bonds bear interest at a rate of 2.95% from October 1, 2019
until the final maturity of April 1, 2029. The Bonds have
been rated “B” by S&P Global Ratings and “B2” by Moody’s
Investor Service. BofA Securities, Inc. served as the remarketing
agent on the transaction.
The Bonds were originally issued on April 4, 2013. The
fixed term interest rate period under which the Bonds were
previously issued expired. Accordingly, the Bonds were remarketed
on October 1, 2019. The Bonds are payable solely from amounts
received from Casella under the indenture and are not a general
obligation of the Authority, nor are they a debt or pledge of the
faith and credit of the State of New Hampshire.
The closing of the Bonds builds upon CTBH’s earlier success.
CTBH served as the financial advisor to Waste Pro USA, Inc. on its
sale of $46.5 million of solid waste disposal revenue bonds that
closed in May 2019. Since inception, CTBH has provided its
consulting services to borrowers on nearly $200 million of
tax-exempt solid waste industrial revenue bonds across six
states.
About Casella Waste Systems
Casella Waste Systems, Inc., headquartered in Rutland, Vermont,
provides solid waste management services consisting of collection,
transfer, disposal, and recycling services in the northeastern
United States.
About CTBH Partners
CTBH Partners is a top-ranked independent financial advisory
firm to the environmental sector specializing in tax-exempt debt
offerings for organizations with qualifying capital expenditures.
CTBH is registered as a Municipal Advisor with the Municipal
Securities Rulemaking Board and the U.S. Securities and Exchange
Commission. CTBH does not engage in any form of underwriting,
trading, marketing, or investing in securities.
For further information, visit the company’s website at
https://www.ctbhpartners.com.
Transaction Contact:John RuthManaging
Partner603.667.3439jruth@ctbhpartners.com
Media Contact:Abbie
Montgomerymedia@ctbhpartners.com
Casella Waste Systems (NASDAQ:CWST)
Historical Stock Chart
From Jun 2024 to Jul 2024
Casella Waste Systems (NASDAQ:CWST)
Historical Stock Chart
From Jul 2023 to Jul 2024