Waste Management prices $600 million in notes

posted: 88 DAYS 19 HOURS AGO

Text SizeAAA

HOUSTON -Waste Management Inc. said late Thursday it priced $600 million of 30-year, 6.125 percent senior notes.

The public offering of the notes, which are due Nov. 30, 2039, is expected to close Tuesday.

Waste Management expects the securities to obtain investment-grade ratings from Moody's, Fitch and Standard & Poor's.

Some of the proceeds will fund "certain equity investments and acquisitions and all remaining proceeds will be used for general corporate purposes, including additions to working capital, capital expenditures and the funding of other potential acquisitions and investments in businesses."

BNP Paribas Securities Corp., JPMorgan Securities Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC. acted as joint book-running and joint lead managers of the offering.

Shares of Waste Management added 24 cents to $32.21 in morning trading.

2009-11-13 09:51:06