Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
11 Agosto 2020 - 2:45PM
Edgar (US Regulatory)
Issuer Free Writing Prospectus
Filed by: Covanta Holding Corporation
Pursuant to Rule 433 under the Securities Act of 1933
Registration Statement No. 333-220460
August 11, 2020
Covanta Holding Corporation
Pricing Term Sheet
$400,000,000 5.000% Senior Notes due 2030
Issuer:
|
Covanta Holding Corporation
|
|
|
Security description:
|
5.000% Senior Notes due 2030
|
|
|
Distribution:
|
SEC Registered
|
|
|
Size:
|
$400,000,000
|
|
|
Gross proceeds:
|
$400,000,000
|
|
|
Net proceeds (before expenses):
|
$394,000,000
|
|
|
Maturity:
|
September 1, 2030
|
|
|
Coupon:
|
5.000%
|
|
|
Issue price:
|
100.000% of principal amount
|
|
|
Yield to maturity:
|
5.000%
|
|
|
Spread to Benchmark Treasury:
|
+435 basis points
|
|
|
Benchmark Treasury:
|
UST 0.625% due May 15, 2030
|
|
|
Interest Payment Dates:
|
March 1 and September 1 beginning on March 1, 2021. Interest will accrue from August 25, 2020
|
|
|
Equity Clawback:
|
Prior to September 1, 2023 up to 35% at 105% plus accrued and unpaid interest
|
|
|
Make-whole:
|
Make-whole call at T+50 bps prior to September 1, 2025
|
|
|
Optional redemption:
|
On and after September 1, 2025, at the prices set forth below (expressed as percentages of the principal amount), plus accrued and unpaid interest, if redeemed during the twelve-month period beginning on September 1 of the years indicated
below:
|
|
|
|
Year
|
Percentage
|
|
2025
|
102.500%
|
|
2026
|
101.667%
|
|
2027
|
100.833%
|
|
2028 and thereafter
|
100.000%
|
|
|
Change of control:
|
Putable at 101% of principal plus accrued and unpaid interest
|
|
|
Trade date:
|
August 11, 2020
|
|
|
Settlement:
|
T+10; August 25, 2020
It is expected that delivery of the Notes will be made against payment therefor on or about August 25, 2020, which is the tenth business day following the date hereof (such settlement cycle being referred to as “T+10”). Under Rule 15c6-1
under the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to sell their Notes before the
second business day prior to the delivery of the Notes will be required, by virtue of the fact that the Notes initially will settle in T+10, to specify an alternative settlement arrangement at the time of any such trade to prevent a failed
settlement. Those purchasers should consult their own advisors.
|
|
|
CUSIP:
|
22282EAJ1
|
|
|
ISIN:
|
US22282EAJ10
|
|
|
Denominations/Multiple:
|
$2,000 x $1,000
|
|
|
Ratings (Moody’s/S&P)*:
|
B1 / B
|
|
|
Joint Book-Running Managers:
|
J.P. Morgan Securities LLC
|
|
BofA Securities, Inc.
|
|
Citizens Capital Markets, Inc.
|
|
Credit Agricole Securities (USA) Inc.
|
|
MUFG Securities Americas Inc.
|
|
SMBC Nikko Securities America, Inc.
|
|
|
Senior Co-Manager:
|
TD Securities (USA) LLC
|
|
|
Co-Managers:
|
BBVA Securities Inc.
|
|
Capital One Securities Inc.
|
|
Truist Securities, Inc.
|
|
Fifth Third Securities, Inc.
|
|
HSBC Securities (USA) Inc.
|
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that
registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively,
the issuer or any underwriter participating in the offering will arrange to send you the prospectus if you request it by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 by
calling toll-free at (866) 803-9204.
* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this
communication being sent by Bloomberg or another email system.
Covanta (NYSE:CVA)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Covanta (NYSE:CVA)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024