SOURCE: Covanta Holding Corporation
MORRISTOWN, NJ--(Marketwired - Mar 24, 2014) - 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 June 1, 2014 in connection with its previously announced dividend payable on April 2, 2014 to stockholders of record as of the close of business on March 26, 2014. As a result of this dividend, effective March 24, 2014 at 9:00 a.m., New York City time, the conversion rate was adjusted to 65.3501 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 $15.30 per share.
Covanta is a world leader in providing sustainable waste and energy solutions. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with environmentally sound solid waste disposal 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 440,000 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.covanta.com.