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Harsco plans new debt financing for ESOL purchase
By Sara Rosenberg
New York, Feb. 10 – Harsco Corp. plans on getting new debt financing and using borrowings under its existing revolving credit facility to fund its acquisition of the Stericycle Environmental Solutions business (ESOL), according to a news release.
Under the agreement, ESOL, a hazardous waste transportation and processing solutions provider, is being bought from Stericycle Inc. $462.5 million.
Closing is anticipated by the end of the first quarter, subject to customary conditions, including regulatory approval.
Net leverage is expected to be about 3.5x at close.
Harsco is a Camp Hill, Pa.-based provider of environmental solutions for industrial and specialty waste streams and innovative technologies for the rail sector.
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