Clean Harbors offers $550 million 8.5-year notes via Goldman Sachs, Bank of America Merrill Lynch

By Paul A. Harris

Portland, Ore., Nov. 27 - Clean Harbors, Inc. kicked off a $550 million offering of 8.5-year senior notes (/BB+/) on Tuesday, according to a buyside source.

The deal is expected to price mid-to-late in the present week.

Goldman Sachs & Co. and Bank of America Merrill Lynch are the joint bookrunners. Credit Suisse Securities (USA) LLC is the co-manager.

The Rule 144A and Regulation S notes come with four years of call protection.

In addition to the notes the Norwell, Mass., environmental, energy and industrial services provider is offering 6 million shares of Clean Harbors common stock.

Proceeds from both the bonds and the stock will be used to finance a portion of the purchase price for the company's previously announced proposed acquisition of Safety-Kleen, Inc. and its subsidiaries.

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