MORRISTOWN, N.J., Aug. 22, 2019 /PRNewswire/ -- Covanta
Holding Corporation (NYSE: CVA) ("Covanta" or the "Company"), a
world leader in sustainable waste management and renewable energy,
today announced the successful closing of $50 million in new tax-exempt bonds, issued
through the Pennsylvania Economic Development Financing Authority,
with a 20-year maturity and a coupon of 3.25%. The bonds were
issued in compliance with the Green Bond Principles and will
finance eligible green expenditures at certain of our facilities in
Pennsylvania, specifically costs
related to our metals recycling activities, construction of our new
total ash processing system ("TAPS") and energy-from-waste plant
maintenance.
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"We are very pleased to announce our first green bond issuance,
which recognizes our commitment and ongoing investment in
environmental sustainability," said Bradford Helgeson, Covanta's Chief Financial
Officer. "From a financing standpoint, these bonds represent very
attractive, long-term funding that further improves the cost, tenor
and flexibility of our capital structure."
The new bonds are unsecured obligations of Covanta Holding
Corporation and are not guaranteed by any of our subsidiaries.
About Covanta
Covanta is a world leader in providing
sustainable waste and energy solutions. Annually, Covanta's modern
Energy-from-Waste facilities safely convert approximately 21
million tons of waste from municipalities and businesses into
clean, renewable electricity to power one million homes and recycle
over 600,000 tons of metal. Through a vast network of treatment and
recycling facilities, Covanta also provides comprehensive
industrial material management services to companies seeking
solutions to some of today's most complex environmental challenges.
For more information, visit covanta.com.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release may constitute
"forward-looking" statements as defined in Section 27A of the
Securities Act of 1933 (the "Securities Act"), Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act"), the Private
Securities Litigation Reform Act of 1995 (the "PSLRA") or in
releases made by the Securities and Exchange
Commission ("SEC"), all as may be amended from time to time.
Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the
actual results, performance or achievements of Covanta Holding
Corporation, its subsidiaries and joint ventures or industry
results, to differ materially from any future results, performance
or achievements expressed or implied by such forward-looking
statements. Statements that are not historical facts are
forward-looking statements. For additional information see
the Cautionary Note Regarding Forward-Looking Statements in the
Company's 10-K, previously filed with the SEC.
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SOURCE Covanta Holding Corporation