Waste Management ( NYSE: WM ) priced public offering of $1.25B senior notes as $750M aggregate principal amount of 4.625% senior notes due February 15, 2030; and $500M aggregate principal amount of 4.625% senior notes due February 15, 2033.
The offering is expected to close on February 15, 2023.
The company intends to use the net proceeds to repay borrowings under its commercial paper program used for working capital, supported by $3.5B revolving credit facility, to repay $500M outstanding 2.40% senior notes when they mature in May 2023 and for general corporate purposes.
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Waste Management prices $1.25B senior notes