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Casella Waste (CWST) Prices $125M Senior Debt Offering

September 28, 2012 7:03 AM EDT
Casella Waste Systems, Inc. (Nasdaq: CWST) has priced the previously announced offering of 7 3/4% senior subordinated notes due 2019 (the "Notes").

The aggregate principal amount of the Notes is $125.0 million. The Notes are being offered as additional debt securities under an indenture pursuant to which the Company previously issued senior subordinated notes (the "Existing Notes"). The Notes and the Existing Notes initially will have different CUSIP numbers. However, the Company expects to register the Notes under the Securities Act of 1933, as amended (the "Securities Act") and following such registration, the Company intends to exchange the Notes for unrestricted notes with the same CUSIP as the Existing Notes, and the Notes and the Existing Notes will be fungible thereafter.

The issuance of the Notes is anticipated to close on October 9, 2012. The Notes will pay interest on a semi-annual basis.

The Company intends to use the net proceeds of the offering to refinance its 11% Senior Second Lien Notes due 2014, of which $180,000,000 aggregate principal amount is outstanding.


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