SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 1.02. | Termination of Material Definitive Agreement. |
On November 5, 2024, Waste Management, Inc. (the “Company”) repaid in full all borrowings under its delayed draw Term Credit Agreement dated August 28, 2024 (as amended, the “Credit Agreement”) and terminated the Credit Agreement.
The Company received $5.2 billion principal amount of borrowings under the Credit Agreement on October 30, 2024. The borrowings were used to fund the majority of the consideration for the Company’s acquisition of Stericycle, Inc. that closed on November 4, 2024. Net proceeds from the Company’s issuance and sale of $5.2 billion of senior notes that also closed on November 4, 2024 were applied to repayment of the Credit Agreement borrowings.
A summary of the material terms of the Credit Agreement are set forth in Item 1.01 of the Company’s Current Report on Form 8-K filed September 3, 2024 and are incorporated herein by reference.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| WASTE MANAGEMENT, INC. | ||
| Date: November 7, 2024 | By: | /s/ Charles C. Boettcher |
| Charles C. Boettcher | ||
| Executive Vice President and Chief Legal Officer | ||