WM Announces Pricing of $2 Billion Senior Notes
27 Julho 2023 - 7:26PM
Business Wire
Waste Management, Inc. (NYSE: WM) (“WM” or the “Company”) today
announced that it has priced a public offering of $2,000,000,000
aggregate principal amount of senior notes under an effective shelf
registration statement previously filed with the Securities and
Exchange Commission (the “SEC”), as follows:
- $750,000,000 aggregate principal amount of 4.875% senior notes
due February 15, 2029; and
- $1,250,000,000 aggregate principal amount of 4.875% senior
notes due February 15, 2034.
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 August 3, 2023, subject to
the satisfaction of closing conditions. The Company intends to use
the net proceeds from the offering (i) to repay borrowings under
its commercial paper program used for working capital, which is
fully supported by the Company’s $3.5 billion revolving credit
facility, (ii) to repay borrowings under the Company’s $1.0
billion, two-year, U.S. term credit agreement and (iii) for general
corporate purposes.
Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank
Securities Inc., Goldman Sachs & Co. LLC, Scotia Capital (USA)
Inc., BNP Paribas Securities Corp., MUFG Securities Americas Inc.,
RBC Capital Markets, LLC and Truist Securities, Inc. are acting as
joint book-running managers of the offering. In addition, J.P.
Morgan Securities LLC, Mizuho Securities USA LLC, PNC Capital
Markets LLC, SMBC Nikko Securities America, Inc., CastleOak
Securities, L.P., CAVU Securities, LLC, Loop Capital Markets LLC
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, 201 North Tryon Street, NC1-022-02-25,
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, by phone at 1-800-503-4611 or by email at
prospectus.CPDG@db.com; Goldman Sachs & Co. LLC, by mail: Attn:
Prospectus Department, 200 West Street, New York, NY 10282, by
phone at 1-866-471-2526 or by email at
prospectus-ny@ny.email.gs.com; 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 WM
WM is North America's leading provider of comprehensive
environmental solutions. Previously known as Waste Management and
based in Houston, Texas, WM is driven by commitments to put people
first and achieve success with integrity. The Company, through its
subsidiaries, provides collection, recycling and disposal services
to millions of residential, commercial, industrial and municipal
customers throughout the U.S. and Canada. With innovative
infrastructure and capabilities in recycling, organics and
renewable energy, WM provides environmental solutions to and
collaborates with its customers in helping them achieve their
sustainability goals. WM has the largest disposal network and
collection fleet in North America, is the largest recycler of
post-consumer materials and is the leader in beneficial use of
landfill gas, with a growing network of renewable natural gas
plants and the most gas-to-electricity plants in North America.
WM's fleet includes nearly 11,000 natural gas trucks – the largest
heavy-duty natural gas truck fleet of its kind in 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
the Company’s most recent Annual Report on Form 10-K and subsequent
reports on Form 10-Q.
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Waste Management
Analysts Ed Egl 713.265.1656 eegl@wm.com Media
Toni Werner corp_comm@wm.com
Waste Management (NYSE:WM)
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