COVANTA HOLDING CORPORATION (NYSE:CVA) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Effective as of August 21, 2018, Covanta Energy, LLC, a subsidiary of Covanta Holding Corporation (the “Company”), entered into a second amendment and restatement of the Amended and Restated Credit and Guaranty Agreement, dated as of April 10, 2015, as amended (the “First Amended and Restated Credit Agreement),with Bank of America, N.A. as Administrative Agent and Collateral Agent and the lenders named therein (the “Second Amended and Restated Credit Agreement”). The $1.3 billion Second Amended and Restated Credit Agreement now consists of a $900 million revolving credit facility and a $400 million term loan both of which are due August 2023. A portion of the proceeds of the new term loan were used to repay direct borrowings under the previous revolving credit facility and pay transaction fees and expenses. Initial pricing on the new revolving credit facility is LIBOR plus 2.00%. All other material provisions, including covenants, are substantially unchanged.
The foregoing description of the Second Amended and Restated Credit Agreement is qualified in its entirety by reference to the Second Amended and Restated Credit Agreement which is attached hereto as Exhibit 10.1 and is incorporated by reference herein. Further information on the First Amended and Restated Credit Agreement is available in the Company’s Annual Report on Form 10-K for the Year Ended December31, 2017 under "Notes to Consolidated Financial Statements."
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Item 2.03. |
Financial Statements and Exhibits. |
(c) Exhibits
COVANTA HOLDING CORP ExhibitEX-10.1 2 ex101new.htm EXHIBIT 10.1 ex101new Exhibit 10.1 Execution Version CUSIP Numbers: Deal: 22281GAD0 Revolver: 22281GAE8 Term Loan: 22281GAF5 SECOND AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT dated as of August 21,…To view the full exhibit click here
About COVANTA HOLDING CORPORATION (NYSE:CVA)
Covanta Holding Corporation is a holding company. The Company, through its subsidiaries, owns and operates infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses. It operates through North America segment, which consists of waste and energy services operations located primarily in the United States and Canada. The energy-from-waste (EfW) serves over two markets as both a sustainable waste management solution and as a source of clean energy. The Company processes approximately 20 million tons of solid waste annually. The Company operates and/or have ownership positions in over 45 EfW facilities, which are primarily located in North America, and over 10 additional energy generation facilities, including other renewable energy production facilities in North America (wood biomass and hydroelectric). The Company operates EfW projects in approximately 20 states and over two Canadian provinces.
