CTBH Partners Announces Successful Remarketing of $11.0 million of Solid Waste Industrial Revenue Bonds for Casella Waste Systems, Inc.

Deal completion builds on strong year for CTBH Partners

HANOVER, N.H., Oct. 02, 2019 (GLOBE NEWSWIRE) — CTBH Partners LLC (“CTBH”) is pleased to announce the closing of $11.0 million tax-exempt solid waste industrial revenue bonds for its client, Casella Waste Systems, Inc. (“Casella”) (Nasdaq: CWST). As financial advisor to the borrower, CTBH represented Casella in the remarketing of its Business Finance Authority of the State of New Hampshire (the “Authority”) Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2013 (the “Bonds”). The Bonds bear interest at a rate of 2.95% from October 1, 2019 until the final maturity of April 1, 2029.  The Bonds have been rated “B” by S&P Global Ratings and “B2” by Moody’s Investor Service. BofA Securities, Inc. served as the remarketing agent on the transaction.

The Bonds were originally issued on April 4, 2013.  The fixed term interest rate period under which the Bonds were previously issued expired. Accordingly, the Bonds were remarketed on October 1, 2019.  The Bonds are payable solely from amounts received from Casella under the indenture and are not a general obligation of the Authority, nor are they a debt or pledge of the faith and credit of the State of New Hampshire.

The closing of the Bonds builds upon CTBH’s earlier success. CTBH served as the financial advisor to Waste Pro USA, Inc. on its sale of $46.5 million of solid waste disposal revenue bonds that closed in May 2019. Since inception, CTBH has provided its consulting services to borrowers on nearly $200 million of tax-exempt solid waste industrial revenue bonds across six states.

About Casella Waste Systems

Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste management services consisting of collection, transfer, disposal, and recycling services in the northeastern United States. 

About CTBH Partners

CTBH Partners is a top-ranked independent financial advisory firm to the environmental sector specializing in tax-exempt debt offerings for organizations with qualifying capital expenditures. CTBH is registered as a Municipal Advisor with the Municipal Securities Rulemaking Board and the U.S. Securities and Exchange Commission. CTBH does not engage in any form of underwriting, trading, marketing, or investing in securities.

For further information, visit the company’s website at https://www.ctbhpartners.com.

Transaction Contact:
John Ruth
Managing Partner

Media Contact:
Abbie Montgomery

Contact us

CTBH Partners LLC

  • PO Box 802

    Hanover, NH 03755

  • 603.667.3439

  • jruth@ctbhpartners.com