Casella Waste draws $25M in tax-exempt bonds for Vermont capital projects

CASELLA WASTE SYSTEMS INC

Issued $25M of Series 2022A-2 bonds via Vermont Economic Development Authority; $35M issued in June 2022.
Initial fixed rate 4.375% per annum through May 31, 2032; thereafter convertible to variable or new fixed term.
Mandatory tender on June 1, 2032 and at each conversion date; BofA Securities acts as remarketing agent.
Proceeds finance/reimburse qualifying Vermont capital projects; obligations guaranteed by substantially all subsidiaries.
Loan agreement includes standard covenants, events of default; change of control triggers repurchase offer.

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