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Waste Management Makes Giant Public Note Offering

Waste Management Makes Giant Public Note Offering

Waste Management Inc. is offering $1.8 billion in senior notes, for general corporate purposes and to pay  for part of a previous note tender offer.

The Houston-based Waste Management said it has priced underwritten public offerings of $600 million aggregate principal amount of 3.125 percent senior notes due March 1, 2025; $450 million aggregate principal amount of 3.9 percent senior notes due March 1, 2035; and $750 million aggregate principal amount of 4.1 percent senior notes due March 1, 2045, according to a news release.

The company expects to the offering to close Feb. 26. Waste Management said it plans to use the net proceeds from the offering of the 2025 notes for general corporate purposes. It plans to use the proceeds from the offering of the 2035 and 2045 notes to pay a portion of the purchase price and accrued interest from a previously announced tender offer and redemption of senior notes. Any remaining proceeds will be used for general corporate purposes.

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