ADS Waste plans amendment to extend revolver, revise leverage ratios

By Sara Rosenberg

New York, Jan. 20 – ADS Waste Holdings Inc. is seeking an amendment to its senior secured credit facility to extend the revolver maturity to October 2019 from October 2017, reduce the maximum total leverage ratios by 0.25 times and make certain other favorable changes to baskets and definitions, according to an S-1/A filed with the Securities and Exchange Commission.

The amendment will also remove the parent guarantee and share pledge to streamline post-initial public offering financial reporting.

Closing on the amendment is contingent on the company completing its initial public offering of common stock and a term loan B paydown.

Deutsche Bank is the administrative agent on the credit facility.

ADS is a Ponte Vedra, Fla.-based integrated provider of non-hazardous solid waste collection, transfer, recycling and disposal services.

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