Rutland, Vt.-based Casella Waste Systems is holding a meeting with prospective lenders tomorrow to discuss a potential debt refinancing. Casella is considering entering into a new term loan B facility in an amount of about $350 million and a revolving line of credit facility in an amount of approximately $150 million.
During the meeting, Casella will also provide the lenders with an updated guidance for the year ending December 31, 2016.
The proceeds of the potential refinancing, if effected, would be used for the redemption of all of the company's outstanding 7.75 percent Senior Subordinated Notes due 2019. The timing, size and terms of the Potential Refinancing and the use of proceeds thereof are subject to market and other conditions, and the Company makes no assurance that such actions will take place at any specific time, or at all.