Waste Connections to pay down revolver, term loan via note proceeds

By Mary-Katherine Stinson

Lexington, Ky., Feb. 15 – Waste Connections, Inc. will use the proceeds of a new offering of dollar-denominated senior notes to pay outstanding borrowings under the company’s revolving credit facility and 2021 term credit facility, according to a press release and a 424B5 filing with the Securities and Exchange Commission.

As of Dec. 31, Waste Connections had $453.2 million in borrowings outstanding under the revolver (exclusive of outstanding standby letters of credit of $39.7 million), bearing interest ranging from 6.46% to 8.5%, and had $650 million outstanding on the term loan under the 2021 facility, bearing interest at 6.5%.

The natural gas transmission and production company is based in Houston.

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