Casella to offer up to $20M in VEDA, New Hampshire bonds

Casella Waste Systems will sell up to $16 million in Vermont Economic Development Authority long-term solid waste disposal revenue bonds, the company announced late Monday.

The Rutland-based solid waste company said proceeds from the bond sales will be used to repay loans under its revolving credit facility for assets purchased in Vermont since Oct. 5, 2011.

Casella said it will guarantee the bonds with certain company assets.

In connection with the VEDA bonds, Casella also announced its intention to offer up to $5.5 million of Business Finance Authority of the State of New Hampshire solid waste disposal revenue bonds.

The company also said it may offer an additional $5.5 million in BFA Bonds.

Casella said proceeds from the sale of the New Hampshire bonds will be used to repay borrowings under its revolving credit facility for assets purchased in New Hampshire since Oct. 5, 2011.

The exact terms and timing of the bond offerings will depend upon market conditions and other factors.

The bonds are being offered only to qualified institutional buyers.

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