Waste Management amended and restated its revolving credit agreement with Bank of America, N.A. as administrative agent, with a total commitment of $3.5 billion (plus an additional $1 billion accordion feature) and a maturity date of May 8, 2029. The company said the amendment was made on May 8, 2024.

1. 01

   Waste Management amended and restated its revolving credit agreement with Bank of America, N.A. as administrative agent, with a total commitment of $3.5 billion (plus an additional $1 billion accordion feature) and a maturity date of May 8, 2029. The company said the amendment was made on May 8, 2024.

2. 02

   The company said Waste Management of Canada Corporation and WM Quebec Inc. are co-borrowers, that borrowings in Canadian dollars are permitted up to the U.S. dollar equivalent of $375 million, and that the agreement includes a $100 million swing line sub-facility.

3. 03

   The company said the agreement requires the total debt to EBITDA ratio (Leverage Ratio) for the preceding 4 fiscal quarters not to exceed 3.75 to 1, and that if an acquisition of more than $200 million occurs, it may raise the ratio to 4.25 to 1 for that quarter and the following 3 fiscal quarters.

4. 04

   The company said it had no outstanding borrowings under the credit agreement at closing, with $872 million in commercial paper borrowings supported by the agreement and $180 million in letters of credit issued under it, leaving unused available credit of approximately $2.4 billion.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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