WCA Waste amends revolver, revising definitions and pricing

By Sara Rosenberg

New York, Feb. 26 - WCA Waste Corp. amended its revolving credit facility, modifying definitions and interest rates, according to an 8-K filed with the Securities and Exchange Commission on Friday.

As a result of the definition changes, cash and non-cash income or expense attributable to any interest rate hedging agreement are excluded from the determination of compliance with the leverage ratio.

Also, cash income or expense attributable to any interest rate hedging is included in the determination of compliance with the pro forma adjusted EBITDA debt service ratio.

In addition, the amendment set pricing on the facility at Libor plus 325 basis points until June 30, with a step-up to Libor plus 350 bps if leverage is greater than 4.50:1.00.

The amendment was completed on Feb. 17.

Comerica Bank is the administrative agent on the deal.

WCA Waste is a Houston-based provider of non-hazardous solid waste collection, transfer, processing and disposal services.

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