8-KMaterial AgreementsOther EventsExhibits & Filings

WASTE MANAGEMENT INC 8-K Report, Material Agreement (Feb 26, 2009)

Filed February 26, 2009For Securities:WM

Summary

Waste Management, Inc. (WM) filed an 8-K on February 25, 2009, reporting a material definitive agreement related to a significant debt offering. The company successfully launched an underwritten public offering of $350 million in 6.375% Senior Notes due 2015 and $450 million in 7.375% Senior Notes due 2019, totaling $800 million in new debt. These notes are fully guaranteed by WM Holdings, Inc., a wholly-owned subsidiary, and will be issued under the Company's existing indenture from 1997. The closing of this offering was scheduled for February 26, 2009.

Key Highlights

  • 1Waste Management, Inc. raised $800 million through a public offering of senior notes.
  • 2The offering consisted of $350 million in 6.375% Senior Notes due 2015 and $450 million in 7.375% Senior Notes due 2019.
  • 3The new debt is fully and unconditionally guaranteed by the wholly-owned subsidiary, WM Holdings, Inc.
  • 4The issuance was conducted under the company's existing Registration Statement on Form S-3.
  • 5The notes are governed by the company's senior debt indenture dated September 10, 1997.
  • 6The underwriting agreement was signed on February 23, 2009, with a group of underwriters led by Barclays Capital, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., and Greenwich Capital Markets, Inc.
  • 7The closing of the debt issuance was scheduled for February 26, 2009.

Frequently Asked Questions

This 8-K filing announced Waste Management, Inc.'s entry into a material definitive agreement for a public offering of $800 million in senior notes. It provided details on the aggregate principal amounts, interest rates, maturity dates, guarantors, and the underwriters involved in the transaction.

The company raised a total of $800 million. This includes $350 million of 6.375% Senior Notes due 2015 and $450 million of 7.375% Senior Notes due 2019.

The new senior notes are fully and unconditionally guaranteed by Waste Management, Inc.'s wholly-owned subsidiary, WM Holdings, Inc.

The closing of the issuance and sale of the notes was scheduled to occur on February 26, 2009.