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WCA Waste launches $300 million term loan B at Libor plus 300 bps
By Sara Rosenberg
New York, July 22 – WCA Waste Corp. launched on Friday its $300 million term loan B with price talk of Libor plus 300 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
The company’s up to $425 million credit facility also includes an up to $125 million revolver.
SunTrust Robinson Humphrey Inc. is the lead on the deal.
Commitments are due on Aug. 5, the source added.
Proceeds will be used to refinance existing bank debt.
WCA is a Houston-based vertically integrated non-hazardous solid waste management company.
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