DAILY NEWS Dec 3, 2012 1:33 PM - 0 comments

Clean Harbors offers stock and $550 million senior notes

TEXT SIZE bigger text smaller text
By: SWR Staff
December 3, 2012 2012-12-03

Massachusetts-based waste company Clean Harbors, Inc. has initiated a public offering of six million shares of common stock and a private placement of $550 million of senior notes due 2021.

The senior notes will begin once the pricing of the stock is determined, Clean Harbors said in its November 26, 2012 announcement.

The company said it plans to use the net proceeds of both transactions to finance a portion of its recent $1.25 billion purchase of Safety-Kleen, Inc.

“This acquisition is a landmark achievement for Clean Harbors that we believe will build significant long-term value for our shareholders,” announced Alan McKim, Clean Harbors’ chairman and CEO, speaking of the Safety-Kleen deal. “Safety-Kleen is a recognized leader in the environmental services field with a corporate heritage that dates back nearly 50 years with a strong service culture,” he added.  “We have the benefit of a long and positive relationship with Safety-Kleen as a result of our acquisition of its Chemical Services Division a decade ago.”

About Clean Harbors

Headquartered in Norwell, Massachusetts, Clean Harbors has more than 200 locations, including more than 50 waste management facilities throughout North America in 38 U.S. states, seven Canadian provinces, Mexico and Puerto Rico.



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Solid Waste & Recycling has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields