SOURCE: Covanta Holding Corporation
MORRISTOWN, NJ--(Marketwired - Oct 4, 2013) - Covanta Holding Corporation (NYSE: CVA) ("Covanta" or the "Company") today announced that holders of its 3.25% cash convertible senior notes due 2014 have the right to cash convert the notes during Covanta's fiscal 2013 fourth quarter as a result of the Company's stock price having traded at more than 130% of the conversion price of the notes for at least 20 trading days during the period of 30 consecutive trading days ending on September 30, 2013.
This press release is only a summary of certain provisions of the notes and the indenture related thereto. A complete explanation of the conversion rights of holders of the notes, as well as the procedures required to convert the notes, is set forth in the indenture. All holders are urged to review the conversion provisions contained in the notes and the indenture in its entirety.
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.