Waste Management Announces Underwritten Public Offering of Senior Notes

On October 30, 2024, Waste Management, Inc. (NYSE: WM) revealed the commencement and pricing of an underwritten public offering of senior notes. The offering includes $1 billion aggregate principal amount of 4.500% Senior Notes due 2028, $700 million aggregate principal amount of 4.650% Senior Notes due 2030, $750 million aggregate principal amount of 4.800% Senior Notes due 2032, $1.5 billion aggregate principal amount of 4.950% Senior Notes due 2035, and $1.25 billion aggregate principal amount of 5.350% Senior Notes due 2054. These notes, collectively termed as the “Notes,” will be fully and unconditionally guaranteed by the Company’s wholly-owned subsidiary, Waste Management Holdings, Inc.

The underwritten public offering is conducted under the Company’s Registration Statement on Form S-3 (No. 333-264493) and is facilitated through an Underwriting Agreement. The agreement, executed on October 30, 2024, involves J.P. Morgan Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, and Scotia Capital (USA) Inc., as representatives of the underwriters named in the agreement.

The Underwriting Agreement outlines various aspects such as the issuance and sale of the Notes, indemnification and contribution obligations, and customary terms and conditions associated with agreements of this nature. Noteworthy is the participation of certain underwriters or their affiliates who are lenders under the Company’s delayed draw term credit agreement and the commercial paper program.

The closing for the issuance and sale of these Notes is anticipated to take place on November 4, 2024, subject to the fulfillment of standard closing conditions. The Notes will be issued under an indenture dated as of September 10, 1997, between the Company and The Bank of New York Mellon Trust Company, N.A. The Terms of the Notes and the guarantees by WM Holdings will be detailed in officers’ certificates and guarantee agreements filed as Exhibits with the SEC.

These developments were disclosed in a Form 8-K filed with the Securities and Exchange Commission. Waste Management, Inc. (NYSE: WM) continues to navigate financial markets amidst its strategic offerings and financial operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Waste Management’s 8K filing here.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.