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Casella Waste plans $205 million notes offering
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RUTLAND, Vt. - Casella Waste Systems Inc., a garbage collector and recycler, said Wednesday it plans to offer $205 million aggregate principal amount of senior secured second lien notes due 2014.
The company said net proceeds from the offering will be used to repay a portion of the debt under its existing senior secured credit facility.
The offering will depend on the closing of a new senior secured first lien credit facility, which will be used to refinance the balance of the debt under Casella's existing senior secured credit facility, the company said.
Shares of Casella rose 23 cents, or 10 percent, to $2.49 in morning trading.
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