Casella Waste Systems, a regional solid waste, recycling and resource management services company, entered into a $1.5 billion amended and restated credit agreement with Bank of America as administrative agent and lender and a syndicate of other lenders. The credit facility matures on Sept. 27, 2029 and replaces the company’s prior $1.08 billion credit facility._x000D_
_x000D_
The credit facility provides for an $800 million term loan A facility and a $700 million revolving credit facility, with a $155 million sublimit for letters of credit. The revolving credit facility was undrawn at closing and provides increased liquidity for general corporate purposes, including the execution of the company’s acquisition strategy. The interest rate margin applicable to SOFR based borrowings, including revolving loans, ranges from 1.300% to 2.175% based on consolidated net leverage ratio._x000D_
_x000D_
The joint lead arrangers of the credit facility are BofA Securities, JPMorgan Chase Bank, Citizens Bank, TD Bank, Wells Fargo Securities and Comerica Bank.
Forward for Specialty Finance
