AI English summary of an SEC filing — figures as filed
Waste Management WMThe company said it commenced and priced an underwritten public offering of 5 series of Senior Notes due 2028 to 2054 at 4.500% to 5.350%. The offering is made under Form S-3 registration statement No. 333-264493 on October 30, 2024.
Key points
AI summaryThe company said it commenced and priced an underwritten public offering of 5 series of Senior Notes due 2028 to 2054 at 4.500% to 5.350%. The offering is made under Form S-3 registration statement No. 333-264493 on October 30, 2024.
The company said it is offering Senior Notes due 2028 in the amount of $1,000,000,000, due 2030 in the amount of $700,000,000, due 2032 in the amount of $750,000,000, due 2035 in the amount of $1,500,000,000, and due 2054 in the amount of $1,250,000,000, each as aggregate principal amount, with coupons of 4.500%, 4.650%, 4.800%, 4.950% and 5.350% respectively
WM Holdings, a wholly owned subsidiary, will fully and unconditionally guarantee the notes, the company said. The underwriting agreement dated October 30, 2024 was entered into with J.P. Morgan Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC and Scotia Capital (USA) Inc. as representatives
The company said some underwriters or their affiliates are lenders under the delayed draw term credit agreement and dealers under the commercial paper program, and may receive 5% or more of the net offering proceeds from repayment of those borrowings. The commercial paper program is fully supported by a $3.5 billion revolving credit facility.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Waste Management prices 5-series senior notes offering
The company said it commenced and priced an underwritten public offering of 5 series of Senior Notes due 2028 to 2054 at 4.500% to 5.350%. The offering is made under Form S-3 registration statement No. 333-264493 on October 30, 2024.
Source · Based on the filing body and exhibits
Principal amount by series
The company said it is offering Senior Notes due 2028 in the amount of $1,000,000,000, due 2030 in the amount of $700,000,000, due 2032 in the amount of $750,000,000, due 2035 in the amount of $1,500,000,000, and due 2054 in the amount of $1,250,000,000, each as aggregate principal amount, with coupons of 4.500%, 4.650%, 4.800%, 4.950% and 5.350% respectively
Source · Based on the filing body and exhibits
WM Holdings guarantee and underwriting group
WM Holdings, a wholly owned subsidiary, will fully and unconditionally guarantee the notes, the company said. The underwriting agreement dated October 30, 2024 was entered into with J.P. Morgan Securities LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC and Scotia Capital (USA) Inc. as representatives
Source · Based on the filing body and exhibits
Underwriters’ affiliates may receive 5% or more of net proceeds
The company said some underwriters or their affiliates are lenders under the delayed draw term credit agreement and dealers under the commercial paper program, and may receive 5% or more of the net offering proceeds from repayment of those borrowings. The commercial paper program is fully supported by a $3.5 billion revolving credit facility.
Source · Based on the filing body and exhibits
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
Loading the filing text…