Waste Management, Inc. (WM) announced that it has priced an underwritten public offering of $600 million aggregate principal amount of 6.125% senior notes due November 30, 2039. The company expects the notes to be assigned ratings of BBB by both Standard & Poor’s and Fitch and Baa3 by Moody’s. The offering is expected to close on November 17.

The company said that the net proceeds from the offering will be used to fund certain equity investments and acquisitions and the remaining proceeds will be used for general corporate purposes and funding of other potential acquisitions and investments.

In August, the company entered into an agreement to purchase a 40% percent equity investment in Shanghai Environment Group (SEG), a subsidiary of Shanghai Chengtou Holding, for approximately $140 million. As a joint venture partner in SEG, Waste Management will participate in the operation and management of waste-to-energy and other waste services in the Chinese market. The transaction is expected to be approved in early 2010. The company is focused on expanding its waste-to-energy business and is actively pursuing various projects in the United States and internationally.

Further, in October, WM Healthcare Solutions, Inc. acquired Mountain High Medical Disposal Services, Inc., a medical waste collection, transportation and processing company. Management said that this acquisition fits into Waste Management’s strategy to manage solid waste, medical, recycling and pharmaceutical waste for the healthcare industry. With this purchase, WM Healthcare Solutions will provide these services to facilities in Salt Lake City as well as Idaho. This acquisition expands the company’s capacity and geographic presence to treat and manage waste from healthcare customers.

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