Casella Waste Systems, a regional solid waste, recycling and resource management services company, entered into a $650 million Amended and Restated Credit Agreement with Bank of America as administrative agent and swing line lender, Bank of America, Citizens Bank, JPMorgan Chase Bank and Comerica Bank as joint lead arrangers and joint bookrunners, and certain other agents and lenders. The Credit Facility matures on December 22, 2026 and replaces Casella’s prior $550 million credit facility.

The Credit Facility provides for a term loan A facility in the amount of $350 million and a revolving credit facility in the principal amount of up to $300 million, with a $75 million sublimit for letters of credit. The interest rate margin applicable to LIBOR based borrowings has been reduced, in the case of term loans, to 1.125% to 2.125% (from the previous range of 1.25% to 2.25%) based on consolidated net leverage ratio, and in the case of revolving loans, to a range of 1.125% to 2.125% (from the previous range of 1.25% to 2.25%) based on consolidated net leverage ratio. The Credit Facility contains customary provisions related to replacing the LIBOR benchmark with a SOFR based benchmark for calculating interest.