Waste Connections to repay some revolver debt with stock proceeds

By Sara Rosenberg

New York, Sept. 22 - Waste Connections Inc. plans to repay the unhedged portion of the outstanding borrowings under its senior revolving credit facility using proceeds from an offering of 10 million shares of common stock, according to a 424B3 filed with the Securities and Exchange Commission Monday.

As of Sept. 15, the unhedged balance under the revolver was about $48 million.

Remaining net proceeds from the stock sale will be used for general corporate purposes, which may include acquisitions of additional assets or businesses, the repayment of other debt, capital expenditures and increasing its working capital.

Waste Connections is a Folsom, Calif.-based solid waste services company.

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