Casella noteholders to receive extra interest

New York, July 24 - Casella Waste Systems, Inc. said holders of its recently issued $150 million of 9¾% senior subordinated notes due 2013 will receive additional interest from July 23.

The Rutland, Vt. company will pay an annual interest rate 50 basis points higher from that date.

The increase is because Casella has not been able to exchange the notes for similar securities that are registered with the Securities and Exchange Commission.

Casella said its registration statement for the notes has not yet become effective because the company has had to restate its financial statements for 2001.

The additional interest will continue until the registration is declared effective. Casella said in a filing with the SEC that it expects this to happen within 90 days of July 23.

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