Casella Waste Systems, Inc. has commenced the remarketing of $37.5 million aggregate principal amount of New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2020R-1.
The Bonds, issued on September 2, 2020, are to be remarketed on September 2, 2025, with a final maturity date of September 1, 2050.
The remarketing and redemption are expected to become effective on September 2, 2025.
Remarketing of Bonds
Casella Waste Systems is remarketing $37.5 million aggregate principal amount of New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2020R-1.
Interest Rate Period
The interest rate period under which the Bonds were previously issued is expiring on September 1, 2025, leading to the remarketing at a new interest rate.
Guarantee and Obligation
The Bonds have been guaranteed by Casella's subsidiaries and are payable solely from amounts received from Casella under the Indenture.
- The remarketing and redemption of the Bonds ensure Casella Waste Systems' continued funding for its solid waste, recycling, and resource management services.
- The new interest rate following remarketing will impact the financial terms of the Bonds for both the issuer and Casella.
Casella Waste Systems' remarketing of the Bonds demonstrates its commitment to financial transparency and efficient financing strategies in the waste management sector.