Casella Waste Systems, Inc. Introduces Sustainability-Linked Credit Facility

RUTLAND, Vt.-- Casella Waste Systems, Inc. (Nasdaq: CWST), a regional solid waste, recycling, and resource management services company, today announced an amendment to its existing $650 million credit facility that links borrowing costs to progress in achieving certain annual sustainability goals. The company also announced an amendment to its credit facility associated with the early adoption of Term SOFR as its reference rate, replacing LIBOR in advance of its anticipated cessation later this year.

“As a leading provider of resource management services, sustainability has been at the core of our business for the last 45-years,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “The implementation of the Sustainability-Linked Credit Facility further strengthens the alignment of our business strategies with continued advances in sustainability.”

The company established the following two measurable key performance indicators as part of its Sustainability-Linked Credit Facility:

“We believe that the safety of our people is our number one priority as a team, and we are committed to continually improving the safety of our workforce,” Casella said. “Improving our TRIR metric through continued focus, training, and select investments, not only enhances our safety culture, but could also lead to increased employee engagement and retention of key operational roles.”

“As an enabler of the circular economy, our Resource Solutions team helps our customers in meeting sustainability goals, while simultaneously providing adequate returns in the business,” Casella said.

The performance of each of these metrics will be measured annually against targets established within the amended credit facility. The Company’s interest rate margin may adjust on the drawn or undrawn portion of the credit facility’s Revolver based on attainment or failure to attain each metric.

The credit facility is provided by a consortium of financial institutions with BofA Securities, Inc. and TD Securities USA LLC serving as Sustainability Coordinators.

About Casella Waste Systems, Inc.
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, is amongst the Northeast’s largest recyclers and is an experienced, fully integrated resource management company. Founded in 1975 as a single truck collection service, Casella has grown its operations to provide solid waste collection and disposal, transfer, recycling, and organics services to more than 900,000 residential, commercial, municipal, institutional, and industrial customers throughout the Northeast, and professional resource management services to over 10,000 customer locations in more than 40 states. For further information, investors should contact Jason Mead, SVP Finance & Treasurer at (802) 772-2293, and media should contact Jeff Weld, Director of Communications at (802) 772-2234, or visit the company’s website at www.casella.com.