Waste-to-energy firm Covanta Holding Corp. is making a public offering of $400 million aggregate principal amount of a new series of senior unsecured notes.
Covanta said it intends to use the proceeds from the offering along with borrowing and financing proceeds for general corporate purposes. That includes repaying at maturity its 3.25 percent cash convertible notes. Pending other uses, the maturity date on the notes is June 1, 2014. The company intends to hold the remaining net proceeds as cash or cash equivalents.