05:31 AM EDT, 10/31/2024 (MT Newswires) -- Waste Management (WM) said Wednesday that it has priced a public offering of $5.2 billion of senior notes.

The offering includes $1 billion of 4.5% senior notes due March 15, 2028; $700 million of 4.65% senior notes due March 15, 2030; $750 million of 4.8% senior notes due March 15, 2032; $1.5 billion of 4.95% senior notes due March 15, 2035, and $1.25 billion of 5.35% senior notes due Oct. 15, 2054.

The offering is expected to close on Nov. 4.

The company said it has also elected to draw $5.2 billion of borrowings under its delayed draw term credit agreement.

Waste Management said it plans to fund the merger of its subsidiary Stag Merger Sub with Stericycle through borrowings under the term credit agreement, together with borrowings under its commercial paper program and cash on hand.

Net proceeds from the notes offering will be used to repay borrowings under its term credit agreement upon completion of the merger.

If the merger is not consummated, the company said it will use the net proceeds from the notes offering for general corporate purposes.

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