Waste Management intends to sell four-part fixed-rate senior notes

By Devika Patel

Knoxville, Tenn., Nov. 5 – Waste Management, Inc. plans to price four tranches of senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The fixed-rate notes are due 2025, 2028, 2031 and 2050.

The notes feature a make-whole call and then a par call.

Barclays and Mizuho Securities USA Inc. are the bookrunners for all notes.

In addition, bookrunners on the 2025 notes include BofA Securities Inc., BNP Paribas Securities Corp. and U.S. Bancorp Investments Inc.

Additional bookrunners on the 2028 notes are Scotia Capital (USA) Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.

For the 2031 notes, additional bookrunners are BofA Securities, J.P. Morgan Securities LLC and Scotia Capital.

For the 2050 notes, additional bookrunners are JPMorgan, MUFG and SMBC Nikko Securities America Inc.

Proceeds will be used to repay all of the debt under the company’s $3 billion revolving credit facility, to redeem its $400 million of 4.6% senior notes due March 2021 and for general corporate purposes.

Waste Management is a Houston-based provider of waste management environmental services.

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