HOUSTON--(BUSINESS WIRE)--Dec. 19, 2014--
Waste Management, Inc. (NYSE:WM) announced today that it will redeem the
entire outstanding principal amount of its 6.375% Senior Notes due March
2015, 7.125% Senior Notes due December 2017, and 7.375% Senior Notes due
March 2019 (the “Notes”). The redemption date for the Notes is January
20, 2015. The aggregate principal amount of the Notes outstanding is
$946.8 million. The redemption price for each series of Notes will
include a make-whole premium, which will be calculated three business
days prior to the redemption date in accordance with the terms of the
Notes and related indenture, plus accrued and unpaid interest on the
Notes up to, but excluding, the redemption date. Waste Management plans
to use cash on hand to fund the redemption of the Notes, pending
consideration of potential debt refinancings.
Notices of redemption are being sent to all currently registered holders
of the Notes by the Trustee, The Bank of New York Mellon Trust Company,
N.A. For more information, holders of the Notes may call The Bank of New
York Mellon at 1-800-254-2826.
This press release is not an offer to sell or a solicitation of an offer
to buy any securities.
Forward Looking Statements
This press release contains forward-looking statements that involve
risks and uncertainties. Factors that could cause actual results to
differ materially from those expressed or implied by the forward-looking
statements in this press release are discussed in our most recent Annual
Report on Form 10-K.
ABOUT WASTE MANAGEMENT
Waste Management, Inc., 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.
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
