Market Overview

Covanta Holding Corporation Announces $400M Pricing of Senior Notes Due 2022


Covanta Holding Corporation, a Delaware corporation (NYSE: CVA) today announced the pricing of its underwritten registered public offering of $400 million aggregate principal amount of senior notes due 2022 (the "Note Offering"). Interest on the notes is payable semiannually on April 1 and October 1, beginning on October 1, 2012; the notes will mature on October 1, 2022. The notes will be issued at 100% of par value, with a coupon of 6.375%. The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on December 15, 2011, subject to certain closing conditions.

The Company intends to use the net proceeds of the Note Offering to repay a portion of the amounts outstanding under Covanta Energy Corporation's existing term loan.

Posted-In: News Financing Offerings


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