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WCA Waste amends revolver, pushing out maturity, increasing size
By Sara Rosenberg
New York, July 6 - WCA Waste Corp. amended its revolving credit facility, extending the maturity to Jan. 31, 2014 from July 5, 2011 and increasing the size to $200 million from $175 million, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
Pricing on the revolver can range from Libor plus 212.5 basis points to 262.5 bps based on leverage. Initial pricing is Libor plus 262.5 bps.
Also, the amendment removed the unused fee and added an annual facility fee that can range from 37.5 bps to 87.5 bps based on leverage. The initial fee is 62.5 bps.
In connection with the amendment, Regions Bank, Branch Banking and Trust Co. and CoBank have become new participating lenders under the revolver.
The amendment was completed on June 30.
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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