---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-096357"
form_type: "8-K"
ticker: "WM"
cik: "0000823768"
company_name: "WASTE MANAGEMENT INC"
filed_at: "2024-09-03T23:59:59+00:00"
generated_at: "2026-05-31T06:43:21.174426+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Waste Management enters $7.2B term credit agreement to finance Stericycle acquisition

## Summary
- Up to $7.2B delayed draw term credit facility with JPMorgan as administrative agent; proceeds for pending Stericycle acquisition and refinancing of certain Stericycle debt.
- 364-day maturity from Funding Date; interest at SOFR plus margin tied to WM's debt rating, currently 0.90% for Term SOFR loans.
- Financial covenant: max total debt/EBITDA ratio of 3.75:1, can increase to 4.25:1 for up to two periods after acquisitions >$200M.
- Ticking fee of 0.065%–0.10% p.a. on undrawn commitments; additional extension and duration fees.
- Commitments automatically terminate if Acquisition Agreement is terminated; WM may reduce or terminate commitments at any time.

## SEC filing metadata
- accession: 0001104659-24-096357
- form_type: 8-K
- ticker: WM
- cik: 0000823768
- company_name: WASTE MANAGEMENT INC
- filed_at: 2024-09-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/823768/000110465924096357/0001104659-24-096357-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/823768/000110465924096357/tm2422979d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-096357
- JSON: https://secwatch.observer/filing/0001104659-24-096357.json
- Plain text: https://secwatch.observer/filing/0001104659-24-096357.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.