HOUSTON--(BUSINESS WIRE)--Feb. 18, 2015--
Waste Management, Inc. (NYSE: WM) today announced that it has priced
underwritten public offerings of $600 million aggregate principal amount
of 3.125% senior notes due March 1, 2025, $450 million aggregate
principal amount of 3.90% senior notes due March 1, 2035, and $750
million aggregate principal amount of 4.10% senior notes due March 1,
2045 under an effective shelf registration statement previously filed
with the Securities and Exchange Commission. The notes will be fully and
unconditionally guaranteed by the company’s wholly-owned subsidiary,
Waste Management Holdings, Inc. The notes have been assigned ratings of
A- by Standard & Poor’s, BBB by Fitch and Baa2 by Moody’s.
The offering is expected to close on February 26, 2015. The company
plans to use the net proceeds from the offering of the 2025 notes for
general corporate purposes. The company intends to use the proceeds from
the offering of the 2035 notes and the 2045 notes to pay a portion of
the purchase price and accrued interest from a previously announced
tender offer and redemption of senior notes and any remaining proceeds
will be used for general corporate purposes.
Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc.,
Goldman, Sachs & Co., J.P. Morgan Securities LLC, Barclays Capital Inc.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc.
and Wells Fargo Securities, LLC are acting as joint book-running
managers of the offering. In addition, Mitsubishi UFJ Securities (USA),
Inc., Mizuho Securities USA Inc., Scotia Capital (USA) Inc., BBVA
Securities Inc., BNP Paribas Securities Corp., Citigroup World Markets
Inc., PNC Capital Markets LLC, SMBC Nikko Securities America, Inc., U.S.
Bancorp Investments, Inc., Blaylock Beal Van, LLC, BNY Mellon Capital
Markets, LLC, Comerica Securities, Inc., Drexel Hamilton, LLC and Lloyds
Securities Inc. are acting as co-managers of the offering. Copies of the
final prospectus supplement and related prospectus for this offering may
be obtained by visiting EDGAR on the SEC website at www.sec.gov
or, upon request, from any of the following joint book-running managers
at: (1) Credit Suisse Securities (USA) LLC toll-free at (800) 221-1037;
(2) Deutsche Bank Securities Inc. toll-free at (800) 503-4611; (3)
Goldman, Sachs & Co., at (212) 902-1171 or (4) J.P. Morgan Securities
LLC collect at (212) 834-4533.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the notes described herein, nor shall
there be any sale of these notes in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
notes will be offered only by means of a prospectus, including the
prospectus supplement relating to the notes, meeting the requirements of
Section 10 of the Securities Act of 1933, as amended.
ABOUT WASTE MANAGEMENT
Waste Management, based in Houston, Texas, is the leading provider of
comprehensive waste management services in North America. Through its
subsidiaries, the company provides collection, transfer, recycling and
resource recovery, and disposal services. It is also a leading
developer, operator and owner of landfill gas-to-energy facilities in
the United States. The company’s customers include residential,
commercial, industrial, and municipal customers throughout North
America. To learn more information about Waste Management, visit www.wm.com
or www.thinkgreen.com.
This press release may contain forward-looking statements. The
Company, from time to time, provides estimates of financial and other
data, comments on expectations relating to future periods and makes
statements of opinion, view or belief about current and future events.
Statements relating to future events and performance are
"forward-looking statements.” You should view these statements with
caution. These statements are not guarantees of future performance,
circumstances or events. They are based on the facts and circumstances
known to us as of the date the statements are made. All phases of our
business are subject to uncertainties, risks and other influences, many
of which we do not control. Any of these factors, either alone or taken
together, could have a material adverse effect on us and could cause
actual results to be materially different from those set forth in such
forward-looking statement. We assume no obligation to update any
forward-looking statement, including financial estimates and forecasts,
whether as a result of future events, circumstances or developments or
otherwise. Information regarding factors that could materially affect
results and the accuracy of any forward-looking statements made by the
Company may be found in Part I, Item 1A of the Company’s Annual Report
on Form 10-K for the year ended December 31, 2014.
Source: Waste Management, Inc.
Waste Management
Analysts:
Ed Egl, 713.265.1656
eegl@wm.com
or
Media:
Toni
Beck, 713.394.5093
tbeck3@wm.com
www.wm.com
