Casella Waste plans to call 7¾% notes due 2019, to pay down revolver

By Susanna Moon

Chicago, Sept. 26 – Casella Waste Systems, Inc. plans to repay its senior secured asset-based revolving credit and letter-of-credit facility due Feb. 26, 2020 and to redeem its 7¾% senior subordinated notes due 2019 using proceeds of new bank loans.

Casella plans to refinance its debt with a new $350 million term loan B facility and $150 million revolving line of credit facility, according to a company announcement.

The company said on May 24 that it had planned to issue a call for $12.5 million of its 7¾% senior subordinated notes due 2019 by May 30.

The company had planned to redeem the notes at 101.938 plus accrued interest on June 30.

Casella is a Rutland, Vt.-based regional solid waste, recycling and resource management services company.

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