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Goldman Sachs Agents $350MM Upsize for Clean Harbors

Date: Jul 23, 2018 @ 07:00 AM
Filed Under: Environmental Services

Clean Harbors, Inc., a Massachusetts corporation, and substantially all of the Company’s domestic subsidiaries as guarantors, entered into an Incremental Facility Amendment dated as of July 19, 2018 to the Company’s existing Credit Agreement dated as of June 30, 2017 with Goldman Sachs Lending Partners LLC, as administrative agent and collateral agent, and certain other financial institutions.

The Incremental Facility Amendment increases the principal amount of the initial term loans outstanding under the Term Loan Agreement by $350.0 million and, as a result of such increase, there are now an aggregate of $746.0 million of Initial Term Loans outstanding. Initial Term Loans under the Term Loan Agreement will mature on June 30, 2024 and may be prepaid at any time without premium or penalty other than customary breakage costs with respect to Eurodollar based loans or if the Company engages in certain repricing transactions before January 19, 2019, in which event a 1.0% prepayment premium would be due. The Company’s obligations under the Term Loan Agreement are guaranteed by all of the Company’s domestic restricted subsidiaries and secured by liens on substantially all of the assets of the Company and the guarantors.

The Company also entered into a second amendment to its existing Revolving Credit Agreement described above. That second amendment made certain minor changes to the terms of the Revolving Credit Agreement to reflect the Company’s Incremental Facility Amendment to its Term Loan Agreement described above and certain other developments which have occurred since the most recent prior amendment to the Revolving Credit Agreement.

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