Clean Harbors launches $600M notes offering to fund acquisitions
What's the deal? Clean HarborsDealroom has a profile for this one. Try Dealroom → (CLH) said on Thursday that it had launched a private offering of $600 million in senior notes maturing in 2034. The environmental and industrial services company plans to use the proceeds to fund acquisitions.
Where's the money going? The net proceeds will finance the purchase price of Clean Harbors' previously announced acquisition of EnviroServeDealroom has a profile for this one. Try Dealroom →. Remaining funds will repay borrowings under the company's revolving credit facility, drawn to partly finance its acquisition of ES&HDealroom has a profile for this one. Try Dealroom →.
What if the deals fall through? The offering will proceed regardless of whether the acquisitions close. Any unused proceeds will support general corporate purposes if either deal does not complete.
The signal: At $600 million, the raise ranks among the larger debt offerings in its class. The move shows Clean Harbors leaning on debt markets to fund an acquisition-led expansion strategy.
Image credit: Ken Lund
