WCA Waste changes $100 million add-on term loan issue price to par

By Sara Rosenberg

New York, April 12 – WCA Waste Corp. revised the issue price on its fungible $100 million add-on term loan (B+) to par from 99.75, according to a market source.

Pricing on the add-on term loan and repricing of the company’s existing $295 million term loan (B+) remained at Libor plus 250 basis points with no Libor floor.

The repriced loan is still offered at par and all of the debt is getting 101 soft call protection for six months.

SunTrust Robinson Humphrey Inc. is the lead on the deal.

Proceeds from the add-on loan will be used to pay down revolving credit facility borrowings and add cash to the balance sheet, and the repricing will take the existing term loan down from Libor plus 275 bps with no Libor floor.

WCA is a Houston-based vertically integrated non-hazardous solid waste management company.

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