Waste-to-Energy Firm Covanta Makes $400 Million Public Note Offering

Allan Gerlat, News Editor

February 20, 2014

1 Min Read
Waste-to-Energy Firm Covanta Makes $400 Million Public Note Offering

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.

The Morristown, N.J.-based Covanta said in a news release that with the underwritten public offering the coupon rate, maturity and other terms of the notes will be determined at pricing.

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.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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