Covanta Holding Corporation (Covanta), a world leader in sustainable waste management and renewable energy, announced that its subsidiary, Covanta Energy, LLC, has entered into a US$100 million trade receivable securitisation program. The program enables Covanta to raise incremental, low cost funding by selling certain receivables on a revolving basis to third-party financial institutions. The sales of receivables under the program are expected to be accounted for as cash flow from operations under US GAAP.
