Casella Waste Systems, Inc. has entered into a Second Amended and Restated Credit Agreement with Bank of America as the administrative agent and lender, along with other lenders. The agreement is effectively a refinancing of the company's term loans with the addition of a new term loan A facility worth $800 million and a new revolving credit facility of up to $700 million. Interest rates on these loans will vary based on the company's leverage ratio and they include sustainability-related performance adjustments starting fiscal year 2024. The credit facility is secured by substantially all assets of the company and its co-borrowers, subject to some exceptions, and contains standard financial covenants. The terms of the credit facility are intended to be extended up to September 27, 2029.
Names Mentioned: - Casella Waste Systems, Inc. - Bank of America, N.A. - BofA Securities, Inc. - TD Securities (USA) LLC