CASELLA WASTE SYSTEMS INC (CWST): debt financing — Casella closes $525M acquisition of GFL's Mid-Atlantic solid waste assets; funds with $430M term loan

CASELLA WASTE SYSTEMS INC

Purchase price of $525M funded by new $430M Term Loan A under existing credit facility and equity offering proceeds.
Acquired assets include nine hauling operations, one transfer station, and one material recovery facility.
Acquisition expected to generate aggregate annualized revenues of approximately $185 million.
Term Loan A matures December 2026; initial interest rate margin 2.375% over adjusted Term SOFR.
Expands Casella's footprint into adjacent Mid-Atlantic markets with operations similar to existing business.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CASELLA WASTE SYSTEMS INC incurred term loan of $430.0 million with Bank of America, N.A., as administrative agent and other lenders at 2.375% over adjusted Term SOFR maturing December 22, 2026.

Instrument: term loan
Principal: $430.0 million
Counterparty: Bank of America, N.A., as administrative agent and other lenders
Rate: 2.375% over adjusted Term SOFR
Maturity: December 22, 2026
Event: incurrence

Exact text from the filing

On June 30, 2023, pursuant to the Loan Joinder, the Company borrowed $430.0 million as a Term Loan A under the Credit Agreement

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Source: SEC EDGAR

accession 0001193125-23-181016

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