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    Thursday, November 12, 2009

    Waste Management Issues $600 Million In Debt

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    By Steve Gelsi
    MarketWatch Pulse
       

      NEW YORK -- Waste Management Inc. on Thursday issued $600 million in senior notes due 2039, according to Informa Global Markets. The hauling giant is setting aside the bulk of the proceeds for acquisitions. Waste Management said in a filing with regulators it expects to use about $140 million in net proceeds of the debt offering to fund its purchase of a 40% equity investment in Shanghai Environment Group. The deal is subject to normal regulatory approval and is expected to be approved in early 2010. The company also said it plans to spend up to $350 million of the next six months on other acquisitions and investment opportunities.

      Copyright © 2009 MarketWatch, Inc.

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