Public Finance Authority

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PFA Closes $143 MM Financing for Waste Management Inc.

The Public Finance Authority (PFA) issued $143,000,000 million of revenue bonds for the purpose of financing the costs of refunding certain outstanding series of bonds for solid waste and to pay costs incurred in connection with the issuance of the bonds. The proceeds of the refunded bonds were originally used to finance or refinance the acquisition, construction, improvement and equipping of several solid waste disposal facilities in Illinois, Pennsylvania, Arizona, Georgia, New Hampshire, Oregon and Texas.

Waste Management Inc., is a leading provider of comprehensive waste management services in North America. Through subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities.

The project will assist Waste Management, Inc. as they continue to provide critical services to their customers. As part of their strategy, they are committed to developing new waste solutions that can help communities and organizations achieve their green goals, including zero waste.

PFA partnered with Bank of America Merrill Lynch and Ballard Spahr to provide the financing.