Dive summary:
- Convanta Holding Corp. has announced it will offer tax-exempt bonds worth $335 million to refinance existing tax-exempt debt at its Haverhill, Niagara and SEMASS waste-to-energy facilities.
- Covanta vice president and treasurer, Brad Helgeson, said "By replacing secured project debt with unsecured corporate-level debt, this transaction will enhance our financial flexibility and further simplify our capital structure going forward."
- Bank of America Merrrill Lynch is the lead manager on the transactions and Barclays, Guggenehim Securities and TD Securities are co-managers.
From the article:
Waste-to-energy company Covanta Holding Corp. announced it has priced new tax-exempt bonds worth $335 million.
The bonds' proceeds will be used to refinance existing tax-exempt project debt at its Haverhill, Niagara and SEMASS WTE facilities, along with funding certain capital expenditures in Massachusetts, according to a news release.
Bank of America Merrill Lynch is the lead manager on the transaction. Barclays, Guggenheim Securities and TD Securities are acting as co-managers. ...
