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Firm News

Julie Cohen
Director of Marketing and Communications

Cahill Represents Debt Financing Sources in $2.2 Billion of Debt Financings, Consisting of $1.88 Billion Credit Facilities and $300 Million Notes Offering for Covanta Holding Corporation

Date: 11/30/21

Cahill represented the lead arrangers in connection with a $1,335,000,000 term B credit facility, a $100,000,000 term C credit facility, and a $440,000,000 revolving credit facility for Covanta Holding Corporation. Cahill also represented the initial purchasers in connection with a Rule 144A offering of $300,000,000 aggregate principal amount of 4.875% Sustainability-linked Senior Notes due 2029 by Covert Mergeco, Inc., that was merged with and into Covanta Holding Corporation. Proceeds from the credit facilities and the notes offering, together with proceeds from an equity contribution, were used to fund the acquisition by EQT Infrastructure V fund of Covanta Holding Corporation, a world leader in sustainable waste and energy solutions, as well as to refinance certain existing indebtedness and to pay related fees and expenses.