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Stericycle to issue notes totaling $300 million; Noah Bank places $9 million of notes
By Lisa Kerner
Charlotte, N.C., May 4 – Stericycle, Inc. agreed to place two series of notes totaling $300 million with 34 institutional purchasers on April 30, according to a form 8-K filed with the Securities and Exchange Commission.
The notes will be issued as $200 million of 2.67% senior notes, series A, due July 1, 2022, and $100 million of 2.74% senior notes, series B, due July 1, 2023.
Closing is expected to occur around July 1.
Proceeds will be used to reduce borrowings under the company’s revolving credit facility and for general corporate purposes.
Stericycle, based in Lake Forest, Ill., provides medical waste collection, transportation, treatment and disposal services and safety and compliance programs.
Noah Bank placed $9 million of fixed-rate subordinated notes due 2025.
Proceeds will support the Elkins Park, Pa.-based bank’s operations.
Sandler O'Neill & Partners, LP acted as placement agent.
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