Clean Harbors announces early results of tender offer and consents

Chicago, July 2 – Clean Harbors, Inc. announced the results as of the early tender deadline for the company’s offer to purchase for cash any and all of its $845 million outstanding 5 1/8% senior notes due 2021, according to a press release.

As of the early tender deadline, the company has received tenders and consents representing a total principal amount of $701 million, or 83%, of the outstanding notes.

Holders who validly tendered their notes by the early tender deadline will receive a total consideration of $1,002.99 per $1,000 principal amount. The total consideration includes an early tender payment of $50 per $1,000.

Payment is expected on Tuesday.

Holders tendering after the early tender date will be eligible to receive the tender offer consideration of $952.99 per $1,000 principal amount, or the total consideration less the early tender payment.

As regards the consent solicitation, the company received enough consents to eliminate substantially all of the restrictive covenants and some events of default and related provisions and to reduce the required notice period for an optional redemption to at least three days prior to the date of redemption from at least 30 days prior to the date of redemption.

Clean Harbors intends to redeem on July 17 any notes that remain outstanding after the tender offer is finished at a redemption price of par plus unpaid interest up to, but not including, the payment date, in accordance with the amendments which were approved through the consents received prior to the early tender date.

Goldman Sachs & Co. LLC (800 828-3182 or 212 357-1452) is the dealer manager. Global Bondholder Services Corp. (866 794-2200 or 212 430-3774) is the information agent.

Based in Norwell, Mass., Clean Harbors provides environmental, energy and industrial services.

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