Casella to refinance credit facility by March, one year before due date

By Toni Weeks

San Luis Obispo, Calif., Dec. 5 – Casella Waste Systems, Inc. said it is planning to refinance its $227.5 million senior credit facility before March 18, 2015, one year before its maturity date on March 18, 2016, according to an 8-K filing with the Securities and Exchange Commission.

As of Oct. 31, further advances in the amount of $56.1 million were available under the revolver, net of outstanding irrevocable letters of credit totaling $27.1 million, which had not been drawn.

The company said in the filing that it was in compliance with all covenants under the credit agreement as of Oct. 31.

Bank of America, NA is the administrative agent, swingline lender and letter-of-credit issuer on the facility.

Casella is a Rutland, Vt.-based provider of solid waste, recycling and resource management services.

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