Clean Harbors sets 6.25% coupon on $600 million bond offering

Clean Harbors ($CLH) priced $600 million of senior notes due in 2034 at par with a 6.25% annual coupon. Closing is expected on October 1, subject to customary conditions. The pricing announcement adds final financing terms to the bond offering previously introduced by the company.

Planned uses include funding the EnviroServe acquisition and repaying revolving-credit borrowings used for the ES&H purchase. The offering is not conditional on those acquisitions being completed. Should proceeds not be needed for the planned transactions, the company can use them for general corporate purposes. The announced amount is borrowing, not incremental operating revenue, and pricing the bonds does not by itself confirm that either acquisition has closed or that all proceeds have been received.

Sources:

• Clean Harbors — final senior-note pricing, company release reprint