RUTLAND, Vt., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Casella Waste Systems, Inc. (NASDAQ:CWST), a regional solid waste, recycling, and resource management services company, today announced that it has entered into a $1.5 billion amended and restated credit agreement with Bank of America, N.A. as administrative agent and lender and a syndicate of other lenders (the "Credit Facility"). The Credit Facility matures on September 27, 2029 and replaces the Company's prior $1.08 billion credit facility.
The Credit Facility provides for an $800 million term loan A facility and a $700 million revolving credit facility, with a $155 million sublimit for letters of credit. The revolving credit facility was undrawn at closing and provides increased liquidity for general corporate purposes, including the execution of the Company's acquisition strategy. The interest rate margin applicable to SOFR based borrowings, including revolving loans, ranges from 1.300% to 2.175% based on consolidated net leverage ratio.
The joint lead arrangers of the Credit Facility are BofA Securities, Inc., JPMorgan Chase Bank, N.A., Citizens Bank, N.A., ...
