Casella Waste Systems, Inc. Announces Plans for Potential Debt Repricing
April 03 2017 - 8:00AM
Casella Waste Systems, Inc. (NASDAQ:CWST), a regional solid waste,
recycling and resource management services company (the “Company”),
today announced that it has invited certain prospective lenders to
a meeting scheduled for April 3, 2017 for the purpose of
considering a potential repricing of the Company’s term loan B
facility in the amount of $350,000,000 (the “Potential
Repricing”). There can be no assurance that the Company will
be able to complete such transaction, which is subject to market
and other customary conditions.
About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont,
provides solid waste management services consisting of collection,
transfer, disposal, and recycling services in the northeastern
United States. For further information, investors contact Ned
Coletta, Chief Financial Officer at (802) 772-2239; media contact
Joseph Fusco, Vice President at (802) 772-2247; or visit the
Company’s website at http://www.casella.com.
Safe Harbor Statement
Certain matters discussed in this press release are
"forward-looking statements" intended to qualify for the safe
harbors from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
generally be identified as such by the context of the statements,
including words such as “believe,” “expect,” “anticipate,” “plan,”
“may,” “would,” “intend,” “estimate,” “guidance” and other similar
expressions, whether in the negative or affirmative. These
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry and markets
in which we operate and management’s beliefs and assumptions. There
can be no assurance that the Company will be able to complete the
Potential Repricing. We cannot guarantee that we actually will
achieve the financial results, plans, intentions, expectations or
guidance disclosed in the forward-looking statements made. Such
forward-looking statements, and all phases of our operations,
involve a number of risks and uncertainties, any one or more of
which could cause actual results to differ materially from those
described in our forward-looking statements. Such risks and
uncertainties include or relate to, among other things: conditions
in financial and capital markets, including the impact of
prospective interest rate increases, could impact the Company’s
ability to complete the Potential Repricing on favorable terms, if
at all; the outcome of our expansion efforts and related matters at
the Southbridge landfill, including the uncertainty of the
permitting process and groundwater contamination discovered near
the landfill, which may delay or negatively impact our permitting
activities at that landfill and result in increased costs and
liabilities as well as potentially leading to a discontinuation of
operations at the landfill; adverse weather conditions that have
negatively impacted and may continue to negatively impact our
revenues and our operating margin; current economic conditions that
have adversely affected and may continue to adversely affect our
revenues and our operating margin; we may be unable to increase
volumes at our landfills or improve our route profitability; our
need to service our indebtedness may limit our ability to invest in
our business; we may be unable to reduce costs or increase pricing
or volumes sufficiently to achieve estimated Adjusted EBITDA and
other targets; landfill operations and permit status may be
affected by factors outside our control; we may be required to
incur capital expenditures in excess of our estimates; fluctuations
in energy pricing or the commodity pricing of our recyclables may
make it more difficult for us to predict our results of operations
or meet our estimates; we may incur environmental charges or asset
impairments in the future; and our credit facility agreement
requires us to meet a number of financial ratios and covenants.
There are a number of other important risks and uncertainties that
could cause our actual results to differ materially from those
indicated by such forward-looking statements. These additional
risks and uncertainties include, without limitation, those detailed
in Item 1A, “Risk Factors” in our Form 10-K for the fiscal year
ended December 31, 2016.
We undertake no obligation to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Investors:
Ned Coletta
Chief Financial Officer
(802) 772-2239
Media:
Joseph Fusco
Vice President
(802) 772-2247
http://www.casella.com
Casella Waste Systems (NASDAQ:CWST)
Historical Stock Chart
From Apr 2024 to May 2024
Casella Waste Systems (NASDAQ:CWST)
Historical Stock Chart
From May 2023 to May 2024