Waste Management of Canada is looking to sell as much as $750 million of notes as soon as this week, according to people with knowledge of the matter.
Bond Sale Details
Initial discussions indicate that the seven-year notes will yield approximately 0.75 percentage point more than government bonds, the sources said, asking not to be identified as they are not authorized to speak publicly. The company's existing $500 million bond, carrying a 2.6% coupon, is set to mature in September.
Investor Meetings
Representatives for the company were scheduled to speak with investors today, as reported by Bloomberg last week. A request for comment was not immediately returned.
This bond sale comes as Waste Management seeks to refinance its upcoming debt maturity and potentially raise additional capital for corporate purposes. The notes are expected to be offered to institutional investors in Canada.
