Covanta Holding Corporation, a Delaware corporation (NYSE:CVA) announced the closing of its previously announced underwritten registered public offering of $400 million aggregate principal amount of 5.000% senior notes due 2030.

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 5.875% Senior Notes due 2024 (the "Existing Notes") on September 10, 2020 (the "Redemption Date") and to pay transaction fees and expenses and accrued interest. In the period between the closing of the Note Offering and the Redemption Date, the Company intends to use a portion of the net proceeds of the Note Offering to repay all or a portion of revolver borrowings outstanding under Covanta Energy, LLC's revolving credit facility and invest the remaining net proceeds in short-term interest-bearing accounts, securities or similar investments.

J.P. Morgan, BofA Securities, Citizens Capital Markets, Credit Agricole CIB, MUFG and SMBC Nikko acted as joint bookrunning managers for 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 Waste-to-Energy facilities safely convert approximately 21 million tons of waste from municipalities and businesses into clean, renewable electricity to power one million homes and recycle 500,000 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.