Waste Management Announces Pricing of $1 Billion Senior Notes
April 28 2022 - 6:12PM
Business Wire
Waste Management (NYSE: WM) (“WM” or the “Company”) today
announced that it has priced a public offering of $1,000,000,000
aggregate principal amount of its 4.15% senior notes due April 15,
2032 under an effective shelf registration statement previously
filed with the Securities and Exchange Commission (the “SEC”). The
notes will be fully and unconditionally guaranteed by the Company’s
wholly owned subsidiary, Waste Management Holdings, Inc. The notes
have been assigned ratings of A- by Standard & Poor’s, BBB+ by
Fitch and Baa1 by Moody’s.
The offering is expected to close on May 12, 2022, subject to
the satisfaction of closing conditions. The Company intends to use
the net proceeds from the offering to redeem its $500 million
aggregate principal amount of 2.90% Senior Notes due 2022 and for
general corporate purposes. This press release does not constitute
a notice of redemption under the indenture governing the 2.90%
Senior Notes due 2022.
Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank
Securities Inc., MUFG Securities Americas Inc., Scotia Capital
(USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC,
BNP Paribas Securities Corp. and SMBC Nikko Securities America,
Inc. are acting as joint book-running managers of the offering. In
addition, Truist Securities, Inc., U.S. Bancorp Investments, Inc.,
Academy Securities, Inc., Cabrera Capital Markets, LLC, CastleOak
Securities, L.P., CAVU Securities, LLC, MFR Securities, Inc. and
Stern Brothers & Co. are acting as co-managers of the offering.
Copies of the final prospectus supplement and related prospectus
for this offering may be obtained by visiting EDGAR on the SEC
website at www.sec.gov or, upon request, from any of the joint
book-running managers at: Barclays Capital Inc., by mail: c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by phone at 1-888-603-5847 or by email at
barclaysprospectus@broadridge.com; BofA Securities, Inc., by mail:
Attn: Prospectus Department, 200 North College Street,
NC1-004-03-43, Charlotte, NC 28255-0001, by phone at 1 (800)
294-1322 or by email at dg.prospectus_requests@bofa.com; Deutsche
Bank Securities Inc., by mail: Attn: Prospectus Group, 1 Columbus
Circle, New York, NY 10019 or by phone at 1-800-503-4611; MUFG
Securities Americas Inc., by mail: Attention: Capital Markets
Group, 1221 Avenue of the Americas, 6th Floor, New York, NY 10020
or by phone at 1-877-649-6848; or Scotia Capital (USA) Inc., by
mail: 250 Vesey Street, New York, NY 10281 or by phone at 1 (800)
372-3930.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy the notes described herein, nor
shall there be any sale of these notes in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The notes will be offered only by means of a
prospectus, including the prospectus supplement relating to the
notes, and any free writing prospectus prepared by or on behalf of
us, each of which meeting the requirements of Section 10 of the
Securities Act of 1933, as amended. A securities rating is not a
recommendation to buy, sell or hold securities and may be subject
to revision, suspension or withdrawal at any time. Each credit
rating should be evaluated independently of any other credit
rating.
ABOUT WASTE MANAGEMENT
WM, based in Houston, Texas, is the leading provider of
comprehensive waste management environmental services in North
America, providing services throughout the United States and
Canada. Through its subsidiaries, the Company provides collection,
transfer, disposal services, and recycling and resource recovery.
It is also a leading developer, operator and owner of landfill
gas-to-energy facilities in the United States. The Company’s
customers include residential, commercial, industrial, and
municipal customers throughout North America.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that
involve risks and uncertainties. Factors that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements in this press release are discussed in
Waste Management’s most recent Annual Report on Form 10-K and
subsequent reports on Form 10-Q.
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version on businesswire.com: https://www.businesswire.com/news/home/20220428006345/en/
Analysts Ed Egl 713.265.1656 eegl@wm.com
Media Toni Werner corp_comm@wm.com
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