CTBH Partners LLC announces the closing of $11.0 million tax-exempt solid waste industrial revenue bonds for its client, Casella Waste Systems, Inc. As financial advisor to the borrower, CTBH represented Casella in the remarketing of its Business Finance Authority of the State of New Hampshire Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2013. The Bonds bear interest at a rate of 2.95% from October 1, 2019 until the final maturity of April 1, 2029. The Bonds have been rated “B” by S&P Global Ratings and “B2” by Moody’s Investor Service. BofA Securities, Inc. served as the remarketing agent on the transaction.
The Bonds were originally issued on April 4, 2013. The fixed term interest rate period under which the Bonds were previously issued expired. Accordingly, the Bonds were remarketed on October 1, 2019. The Bonds are payable solely from amounts received from Casella under the indenture and are not a general obligation of the Authority, nor are they a debt or pledge of the faith and credit of the State of New Hampshire.
The closing of the Bonds builds upon CTBH’s earlier success. CTBH served as the financial advisor to Waste Pro USA, Inc. on its sale of $46.5 million of solid waste disposal revenue bonds that closed in May 2019. Since inception, CTBH has provided its consulting services to borrowers on nearly $200 million of tax-exempt solid waste industrial revenue bonds across six states.