By Andrea Heisinger
Omaha, July 18 - Waste Connections, Inc. priced $175 million of 6.22% senior unsecured notes due 2015 in a private placement, according to an 8-K filing with the Securities and Exchange Commission.
The notes feature a change-of-control put and a make-whole call at Treasuries plus 50 bps.
The issuer may sell up to an additional $500 million of notes.
Proceeds will be used to reduce borrowings under a senior unsecured revolving credit facility.
The company provides solid waste collection, transfer, disposal and recycling and is based in Folsom, Calif.
| Issuer: | Waste Connections, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $175 million
|
| Maturity: | Oct. 1, 2015
|
| Coupon: | 6.22%
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | Yes
|
| Additional notes: | Up to $500 million
|
| Distribution: | Private placement
|
| Trade date: | July 15
|
| Settlement date: | Oct. 1
|
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