Casella Waste Systems, Inc. Announces Remarketing of Finance Authority of Maine Solid Waste Disposal Revenue Bonds
Casella Waste Systems (NASDAQ:CWST) has announced the remarketing of $29.0 million in Finance Authority of Maine Solid Waste Disposal Revenue Bonds. The company plans to redeem $1.0 million of the original $30.0 million aggregate principal amount on August 1, 2025, with the remaining bonds to be remarketed on the same date.
The Bonds, set to mature on August 1, 2035, will undergo mandatory tender and remarketing due to the expiration of their current interest rate period on July 31, 2025. The remarketed bonds will be designated as Series 2015R-3 and will only be offered to qualified institutional buyers under Rule 144A. The bonds are guaranteed by Casella's subsidiaries but do not constitute a general obligation of the Finance Authority of Maine or the State of Maine.
Casella Waste Systems (NASDAQ:CWST) ha annunciato la rimarketing di 29,0 milioni di dollari in obbligazioni di entrate per lo smaltimento dei rifiuti solidi emesse dalla Finance Authority of Maine. La societ脿 prevede di riscattare 1,0 milione di dollari dell'importo principale aggregato originario di 30,0 milioni di dollari il 1掳 agosto 2025, mentre le obbligazioni rimanenti saranno rimesse sul mercato nella stessa data.
Le obbligazioni, con scadenza il 1掳 agosto 2035, saranno soggette a un'offerta obbligatoria e a una rimarketing a causa della scadenza del loro attuale periodo di tasso di interesse il 31 luglio 2025. Le obbligazioni rimesse sul mercato saranno designate come Serie 2015R-3 e saranno offerte esclusivamente a investitori istituzionali qualificati ai sensi della Regola 144A. Le obbligazioni sono garantite dalle filiali di Casella, ma non costituiscono un'obbligazione generale della Finance Authority of Maine o dello Stato del Maine.
Casella Waste Systems (NASDAQ:CWST) ha anunciado la reventa de 29,0 millones de d贸lares en bonos de ingresos para la eliminaci贸n de residuos s贸lidos emitidos por la Finance Authority of Maine. La compa帽铆a planea redimir 1,0 mill贸n de d贸lares del monto principal agregado original de 30,0 millones de d贸lares el 1 de agosto de 2025, y los bonos restantes se volver谩n a vender en la misma fecha.
Los bonos, que vencer谩n el 1 de agosto de 2035, estar谩n sujetos a una oferta obligatoria y reventa debido a la expiraci贸n de su periodo actual de tasa de inter茅s el 31 de julio de 2025. Los bonos revendidos se denominar谩n Serie 2015R-3 y solo se ofrecer谩n a compradores institucionales calificados bajo la Regla 144A. Los bonos est谩n garantizados por las subsidiarias de Casella, pero no constituyen una obligaci贸n general de la Finance Authority of Maine ni del Estado de Maine.
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鞚� 毂勱秾鞚� 2035雲� 8鞗� 1鞚� 毵岅赴鞚措┌, 2025雲� 7鞗� 31鞚� 順勳灛 鞚挫瀽鞙� 旮瓣皠 毵岆搿� 鞚疙暣 鞚橂 鞛呾鞍 氚� 鞛寪毵り皜 鞚措（鞏挫雼堧嫟. 鞛寪毵る悩電� 毂勱秾鞚� 2015R-3 鞁滊Μ歃堧 歆�鞝曤悩氅�, Rule 144A鞐� 霐半澕 鞛愱博鞚� 臧栰稑 旮瓣磤 韴瀽鞛愳棎瓴岆 鞝滉车霅╇媹雼�. 鞚� 毂勱秾霌れ潃 Casella鞚� 鞛愴殞靷摛鞚� 氤挫頃橃毵�, 氅旍澑 欤� 旮堨湹 雼龟淡鞚措倶 氅旍澑 欤检潣 鞚茧皹 毂勲毳� 甑劚頃橃電� 鞎婌姷雼堧嫟.
Casella Waste Systems (NASDAQ:CWST) a annonc茅 la remise sur le march茅 de 29,0 millions de dollars d'obligations de revenus 茅mises par la Finance Authority of Maine pour la gestion des d茅chets solides. La soci茅t茅 pr茅voit de racheter 1,0 million de dollars du montant principal initial total de 30,0 millions de dollars le 1er ao没t 2025, les obligations restantes 茅tant remises sur le march茅 脿 la m锚me date.
Les obligations, arrivant 脿 茅ch茅ance le 1er ao没t 2035, feront l'objet d'une offre obligatoire et d'une remise sur le march茅 en raison de l'expiration de leur p茅riode de taux d'int茅r锚t actuelle le 31 juillet 2025. Les obligations remises sur le march茅 seront d茅sign茅es sous la s茅rie 2015R-3 et ne seront propos茅es qu'脿 des acheteurs institutionnels qualifi茅s conform茅ment 脿 la r猫gle 144A. Ces obligations sont garanties par les filiales de Casella, mais ne constituent pas une obligation g茅n茅rale de la Finance Authority of Maine ou de l'脡tat du Maine.
Casella Waste Systems (NASDAQ:CWST) hat die Wiedervermarktung von 29,0 Millionen US-Dollar an Einnahmenanleihen der Finance Authority of Maine f眉r die Entsorgung fester Abf盲lle angek眉ndigt. Das Unternehmen plant, am 1. August 2025 1,0 Million US-Dollar des urspr眉nglichen Gesamtnennbetrags von 30,0 Millionen US-Dollar zur眉ckzuzahlen, w盲hrend die verbleibenden Anleihen am selben Tag wiedervermarktet werden.
Die Anleihen, die am 1. August 2035 f盲llig werden, unterliegen aufgrund des Ablaufs ihres aktuellen Zinssatzzeitraums am 31. Juli 2025 einer obligatorischen Angebotsfrist und Wiedervermarktung. Die wiedervermarkteten Anleihen werden als Serie 2015R-3 bezeichnet und ausschlie脽lich qualifizierten institutionellen K盲ufern gem盲脽 Regel 144A angeboten. Die Anleihen sind durch Casellas Tochtergesellschaften garantiert, stellen jedoch keine allgemeine Verpflichtung der Finance Authority of Maine oder des Bundesstaates Maine dar.
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RUTLAND, Vt., July 17, 2025 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (鈥�Casella鈥�) (NASDAQ:CWST), a regional solid waste, recycling and resource management services company, today announced that it has commenced the remarketing of
The Bonds have a final maturity of August 1, 2035. Pursuant to the indenture under which the Bonds were offered (the 鈥�Indenture鈥�), the interest rate periods under which the Bonds were previously issued are expiring on July 31, 2025, and accordingly, Casella expects that the Remarketed Bonds will be subject to mandatory tender and will be remarketed on August 1, 2025 at a new interest rate for a new interest rate period commencing on August 1, 2025. The Bonds have been guaranteed by substantially all of Casella鈥檚 subsidiaries, as required pursuant to the terms of the loan agreement pursuant to which the Issuer loaned the proceeds of the Bonds to Casella. The Bonds are not a general obligation of the Issuer and do not constitute an indebtedness of or a charge against the general credit of the Issuer. The Bonds are not a debt of the State of Maine and are payable solely from amounts received from Casella under the terms of the Indenture. The remarketing and redemption is expected to become effective on August 1, 2025, and the Remarketed Bonds are anticipated to be sold and designated as a single bond identified as Series 2015R-3.
The Remarketed Bonds are being offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended (the 鈥�Securities Act鈥�). The interest rate period, interest rate and timing of the remarketing of the Remarketed Bonds will depend upon market conditions and other factors, and there can be no assurance that the remarketing or redemption will be completed. The Bonds have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Bonds, nor shall there be any sale of the Bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Safe Harbor Statement
Certain matters discussed in this press release, including, among others, the statements regarding the remarketing of the Remarketed Bonds, are 鈥渇orward-looking statements鈥� 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 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥減lan,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渨ould,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥済uidance鈥� 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 Casella operates and management鈥檚 beliefs and assumptions. Casella cannot guarantee that the remarketing or redemption of the Bonds will be completed, that the Bond proceeds will be available or applied as expected or that it actually will achieve the plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in Casella鈥檚 forward-looking statements. Such risks and uncertainties include or relate to, among other things: market conditions and Casella鈥檚 ability to consummate the remarketing of the Remarketed Bonds, the receipt of all necessary consents and the satisfaction of all other closing conditions with respect to the remarketing of the Remarketed Bonds, as well as additional risks and uncertainties detailed in Item 1A, 鈥淩isk Factors鈥� in Casella鈥檚 Form 10-K for the fiscal year ended December 31, 2024 and in other filings that Casella periodically makes with the Securities and Exchange Commission. There can be no assurance that Casella will be able to complete the remarketing or redemption of the Bonds on the anticipated terms, or at all. Casella undertakes 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.
Contact
Investors:
Brian Butler
Vice President of Investor Relations
(802) 855-4070
Media:
Jeff Weld
Vice President of Communications
(802) 772-2234
http://www.casella.com
FAQ
What is the total value of Casella Waste Systems (CWST) bonds being remarketed?
When will the CWST bond remarketing take effect?
What is the maturity date for Casella Waste Systems' remarketed bonds?
Who can purchase the remarketed CWST bonds?
Are these CWST bonds backed by the State of Maine?
