Covanta Holding Corporation, a Delawarecorporation (NYSE: CVA), today announced the closing of its previously announced underwritten registered public offering of $400 million aggregate principal amount of 6.000% senior notes due 2027.

The Company intends to use the net proceeds of the Note Offering along with cash on hand and/or direct borrowings under Covanta Energy, LLC's revolving credit facility to fund the redemption of all of its 6.375% Senior Notes due 2022 (the "Existing Notes") on or around November 2, 2018 and to pay transaction fees and expenses and accrued interest. Pending such use, the Company intends to use a portion of the net proceeds of the Note Offering to repay borrowings outstanding under Covanta Energy, LLC's revolving credit facility in an amount up to $202 million and invest the remaining net proceeds in short-term interest-bearing accounts, securities or similar investments.

J.P. Morgan, BofA Merrill Lynch, Citizens Capital Markets, Inc., Credit Agricole CIB, MUFG and SMBC Nikko acted as joint bookrunning managers in the Note Offering. A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling +1 (866) 803-9204.

About Covanta

Covanta is a world leader in providing sustainable waste and energy solutions. Annually, Covanta's modern Energy-from-Waste facilities safely convert approximately 22 million tons of waste from municipalities and businesses into clean, renewable electricity to power one million homes and recycle approximately 600,000 tons of metal. Through a vast network of treatment and recycling facilities, Covanta also provides comprehensive industrial material management services to companies seeking solutions to some of today's most complex environmental challenges.