Waste Management to pay down debt, term loan with new note proceeds

By Mary-Katherine Stinson

Lexington, Ky., July 27 – Waste Management, Inc. will use proceeds from a two-part offering of senior notes due 2029 and 2034 for debt repayment, according to a 424B3 filing with the Securities and Exchange Commission

Proceeds will be used to repay borrowings under the company’s commercial paper program used for working capital which is fully supported by the company’s $3.5 billion revolving credit facility, to repay borrowings under its $1 billion two-year term credit agreement maturing in May 2024 and for general corporate purposes.

Waste Management is a Houston-based provider of waste collection, transfer, recycling and resource recovery and disposal services.

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