Allan Gerlat, News Editor

February 20, 2015

1 Min Read
Waste Management Makes Giant Public Note Offering

Waste Management Inc. is offering $1.8 billion in senior notes, for general corporate purposes and to pay  for part of a previous note tender offer.

The Houston-based Waste Management said it has priced underwritten public offerings of $600 million aggregate principal amount of 3.125 percent senior notes due March 1, 2025; $450 million aggregate principal amount of 3.9 percent senior notes due March 1, 2035; and $750 million aggregate principal amount of 4.1 percent senior notes due March 1, 2045, according to a news release.

The company expects to the offering to close Feb. 26. Waste Management said it plans to use the net proceeds from the offering of the 2025 notes for general corporate purposes. It plans to use the proceeds from the offering of the 2035 and 2045 notes to pay a portion of the purchase price and accrued interest from a previously announced tender offer and redemption of senior notes. Any remaining proceeds will be used for general corporate purposes.

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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