Covanta Energy launches term loan B repricing at Libor plus 275 bps

By Sara Rosenberg

New York, March 4 - Covanta Energy Corp. held a call on Monday to launch a repricing of its term loan B to Libor plus 275 basis points with a 0.75% Libor floor from Libor plus 300 bps with a 1% Libor floor, according to sources.

The repriced loan has 101 soft call protection for six months, sources said.

BofA Merrill Lynch is the lead bank on the deal.

Covanta is a Morristown, N.J.-based owner and operator of energy-from-waste and power generation projects.

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