Casella waste systems, inc. announces offering of vermont economic development authority solid waste disposal revenue bonds

Rutland, vt., may 03, 2022 (globe newswire) -- casella waste systems, inc. (“casella”) (nasdaq: cwst), a regional solid waste, recycling and resource management services company, today announced an offering of up to $60.0 million aggregate principal amount of vermont economic development authority (the “issuer”) solid waste disposal revenue bonds (casella waste systems, inc. project) series 2022 (the “bonds”) under an indenture between the issuer and the bond trustee (the “indenture”). the bonds, during any term interest rate period, will be guaranteed by substantially all of casella's subsidiaries, as required by the terms of the loan agreement pursuant to which the issuer will loan the proceeds of the bonds to casella (the “loan agreement”). initially, $35.0 million in principal amount of bonds is anticipated to be issued under the indenture, and casella intends to use the net proceeds of the bonds to finance and/or reimburse casella for certain costs of certain capital projects in the state of vermont.
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