Covanta Announces Information Related to the Repurchase of Its 1.00% Senior Convertible Debentures Due 2027 at the Option of Holders
(firmenpresse) - MORRISTOWN, NJ -- (Marketwire) -- 01/03/12 -- Covanta Holding Corporation (NYSE: CVA) ("Covanta" or the "Company") today announced that it has provided notice to the holders of its 1.00% senior convertible debentures due 2027 (the "Debentures") related to the option of each holder to require the Company to repurchase all of such holder's Debentures, or any portion thereof that is a multiple of $1,000 principal amount, on February 1, 2012 (the "Company Repurchase Notice"). As of September 30, 2011, there was $25 million aggregate principal amount of the Debentures outstanding.
The Company Repurchase Notice states the following (with capitalized terms as defined in the First Supplemental Indenture dated January 31, 2007, or the "Indenture"):
the Repurchase Price is 100% of the principal amount of the Debentures being repurchased;
the Repurchase Date is February 1, 2012;
the Repurchase Price will be paid in cash;
holders must exercise their right to elect repurchase prior to 5:00 p.m., New York City time, on the Business Day immediately preceding the Repurchase Date;
the form of the Repurchase Notice can be referenced in Exhibit A to the Indenture, and is attached with the Company Repurchase Notice;
the name and address of the Paying Agent is: Wells Fargo Bank, N.A., Corporate Trust Operations, MAC N9303-121, Sixth & Marquette Avenue, Minneapolis, MN 55479 (for regular mail or courier delivery), fax number (612) 667-6282 (Attn: Bondholder Communications);
the Debentures must be surrendered to the Paying Agent to collect the Repurchase Price;
a holder may withdraw its Repurchase Notice at any time prior to 5:00 p.m., New York City time, on the Business Day immediately preceding the Repurchase Date by delivering a valid written notice of withdrawal in accordance with Section 4.04 of the Indenture;
the Conversion Rate is 39.7608 (implying a conversion price of $25.15) and the Debentures are not currently convertible;
Debentures as to which a Repurchase Notice has been given may be converted only if the Repurchase Notice is withdrawn in accordance with the terms of the Indenture;
the amount of interest accrued and unpaid per $1,000 principal amount of Debentures to, but excluding, the Repurchase Date is $5.00; and
the CUSIP number of the Debentures is 22282EAA0.
Covanta is an internationally recognized owner and operator of large-scale Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy. Covanta's 44 Energy-from-Waste facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 20 million tons of waste into 9 million megawatt hours of clean renewable electricity and more than 9 billion pounds of steam that are sold to a variety of industries. For more information, visit .
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Covanta and its subsidiaries, or general industry or broader economic performance in global markets in which Covanta operates or competes, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "will," "would," "could," "should," "seeks," or "scheduled to," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Covanta cautions investors that any forward-looking statements made by Covanta are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Covanta, include, but are not limited to, the risk that Covanta may not successfully close its announced or planned acquisitions or projects in development and those factors, risks and uncertainties that are described in periodic securities filings by Covanta with the SEC. Although Covanta believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Covanta's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Covanta does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
Investors
Alan Katz
1.862.345.5456
Media
James Regan
1.862.345.5216
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 03.01.2012 - 13:35 Uhr
Sprache: Deutsch
News-ID 100551
Anzahl Zeichen: 0
contact information:
Town:
MORRISTOWN, NJ
Kategorie:
Alternative Energy
Diese Pressemitteilung wurde bisher 189 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Covanta Announces Information Related to the Repurchase of Its 1.00% Senior Convertible Debentures Due 2027 at the Option of Holders"
steht unter der journalistisch-redaktionellen Verantwortung von
Covanta Holding Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
