Waste Connections Announces Repayment Of Senior Notes

By: Waste Connections
| Published 09/20/2021


TORONTO, CANADA -- Waste Connections, Inc. (TSX/NYSE: WCN) ('Waste Connections' or the 'Company') today announced the repayment of all of its outstanding senior notes under its master note purchase agreements (the 'Notes') with an aggregate principal amount of $1.500 billion and maturities ranging from 2022 through 2027. The Company used the proceeds from its recently completed registered offering of $650 million aggregate principal amount of 2.20% Senior Notes due 2032 and $850 million aggregate principal amount of 2.95% Senior Notes due 2052 plus incremental borrowings under its revolving credit facility to fund the Notes repayment along with the associated make-whole premium and related fees, for which the Company expects to reflect a charge of approximately $115 million in its third quarter 2021 financial results.

'We are extremely pleased to have capitalized on favorable market conditions and the quality of our credit to extend maturities while also reducing interest costs,' said Mary Anne Whitney, Executive Vice President and Chief Financial Officer of Waste Connections. 'Locking in attractive long term rates, while also extinguishing the more restrictive covenants associated with the Notes, further enhances our financial flexibility and positions us for continued growth.'

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