Covanta Announces Adjustment to the Conversion Rate on Its 3.25% Cash Convertible Senior Notes Due 2014
MORRISTOWN, NJ--(Marketwired - Sep 27, 2013) - Covanta Holding Corporation (NYSE: CVA) ("Covanta" or the "Company") today announced an adjustment to the conversion rate on its 3.25% cash convertible senior notes due 2014 in connection with its previously announced dividend payable on October 7, 2013 to stockholders of record as of the close of business on September 30, 2013. As a result of this dividend, the conversion rate was adjusted to 64.0526 shares of Covanta's common stock per $1,000 principal amount of the notes. The adjusted conversion rate is equivalent to an adjusted conversion price of $15.61 per share.
About Covanta
Covanta is a world leader in sustainable waste management and renewable energy. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with an environmentally sound solution to their solid waste disposal needs by using waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 20 million tons of waste into clean, renewable electricity to power one million homes and recycle over 430,000 tons of metal. Energy-from-Waste facilities reduce greenhouse gases, complement recycling and are a critical component to sustainable solid waste management. For more information, visit www.covantaenergy.com.
