8-KMaterial AgreementsOther EventsExhibits & Filings

WASTE MANAGEMENT INC 8-K Report, Material Agreement (Feb 28, 2011)

Filed February 28, 2011For Securities:WM

Summary

Waste Management, Inc. (WM) announced on February 23, 2011, the commencement of an underwritten public offering of $400 million in aggregate principal amount of its 4.60% Senior Notes due 2021. These notes will be fully and unconditionally guaranteed by its wholly-owned subsidiary, Waste Management Holdings, Inc. (WM Holdings). This offering represents a significant debt financing activity for Waste Management, providing capital for its operations and potentially for future investments or acquisitions. The specific terms and conditions of the offering were detailed in an Underwriting Agreement entered into with Deutsche Bank Securities Inc. and RBS Securities Inc. as representatives for the underwriters. The closing of this transaction was scheduled for February 28, 2011.

Key Highlights

  • 1Waste Management, Inc. initiated a public offering of $400 million in 4.60% Senior Notes due 2021.
  • 2The notes are guaranteed by the wholly-owned subsidiary, Waste Management Holdings, Inc.
  • 3The offering was structured as an underwritten public offering.
  • 4Key underwriters for the offering include Deutsche Bank Securities Inc. and RBS Securities Inc.
  • 5The issuance of these notes utilizes the company's existing shelf registration statement on Form S-3.
  • 6The terms of the notes are governed by an indenture dated September 10, 1997, with The Bank of New York Mellon Trust Company, N.A. as trustee.
  • 7The closing for the note issuance was scheduled for February 28, 2011.

Frequently Asked Questions

This 8-K filing primarily serves to announce the material definitive agreement related to Waste Management's underwritten public offering of $400 million in 4.60% Senior Notes due 2021, as well as to provide details about other related events and exhibits.

For investors in these notes, they represent a debt instrument issued by Waste Management, Inc. with a fixed coupon rate of 4.60% maturing in 2021. The notes are guaranteed by WM Holdings, adding an extra layer of security for bondholders. The offering indicates the company's strategy to raise capital through debt financing.

The main parties involved are Waste Management, Inc. (the issuer), Waste Management Holdings, Inc. (the guarantor), Deutsche Bank Securities Inc. and RBS Securities Inc. (as representatives of the underwriters), and The Bank of New York Mellon Trust Company, N.A. (as trustee for the indenture).

The total principal amount of the notes being offered is $400,000,000. The closing of the issuance and sale of the notes was scheduled to occur on February 28, 2011.