Clean Harbors Prices $600M Senior Notes at 6.25% to Fund EnviroServe Deal
CLH sits 57% above its 52-week low of $201.34.
Summary
Clean Harbors priced a $600 million private offering of 6.250% senior notes due 2034 at par. The deal is expected to close around October 1, 2026. Proceeds will fund the previously announced $470 million EnviroServe acquisition and pay down revolver borrowings used for the ES&H purchase. The offering is not contingent on either acquisition closing; if a deal falls through, funds go to general corporate purposes. This follows the September 17 announcement of the offering and provides concrete terms. The coupon is in line with investment-grade industrial credits, and the size is modest relative to the company's $16.7 billion market cap. Watch for the EnviroServe closing and any further acquisition financing.
At the time of this announcement, CLH was trading at $315.55 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $16.7B. The 52-week trading range was $201.34 to $335.94. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.