TORONTO, March 2,
2022 /PRNewswire/ -- Following the previous
announcement of the launch of a senior notes offering, Waste
Connections, Inc. (TSX/NYSE: WCN) ("Waste Connections" or the
"Company") announced today that it has priced an underwritten
public offering (the "Offering") of $500 million aggregate principal amount of
its 3.200% Senior Notes due 2032 (the "Notes") at a price to the
public of 99.925% of their face value. The Offering is
expected to close on March 9, 2022,
subject to customary closing conditions. Net proceeds to
Waste Connections from the Offering are expected to be
approximately $494.8 million, after
deducting underwriting fees and estimated Offering expenses, and
are expected to be used to repay a portion of the borrowings
outstanding under its revolving credit facility provided under its
credit agreement.
BofA Securities, J.P. Morgan, MUFG and Wells Fargo Securities
are acting as joint book-running managers and underwriters for the
Offering. The Offering is being made pursuant to an effective
shelf registration statement filed with the U.S. Securities and
Exchange Commission (the "SEC") on September
1, 2021 (the "Registration Statement"). Copies of the
prospectus supplement and the accompanying base prospectus for the
Offering may be obtained by contacting BofA Securities, Inc. at 200
North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001,
Attention: Prospectus Department, toll-free at 1-800-294-1322 or at
dg.prospectus_requests@bofa.com, J.P. Morgan Securities LLC at 383
Madison Avenue, New York, New
York, 10179, Attn: Investment Grade Syndicate Desk, 3rd
Floor, or by telephone at (212) 834-4533, MUFG Securities Americas
Inc. at 1221 Avenue of the Americas, 6th Floor, New York, New York 10020, Attention: Capital
Markets Group, or toll-free at 877-649-6848 or Wells Fargo
Securities, LLC at 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402, Attn: WFS
Customer Service, toll-free at 1-800-645-3751 or at
wfscustomerservice@wellsfargo.com. Copies of the prospectus
supplement and the accompanying base prospectus for the Offering
will also be available on the SEC's website at
http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other securities,
nor will there be any offer, solicitation or sale of the Notes or
any other securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Waste Connections
Waste Connections is an integrated solid waste services company
that provides non-hazardous waste collection, transfer and disposal
services, along with resource recovery primarily through recycling
and renewable fuels generation. Waste Connections serves more than
eight million residential, commercial and industrial customers in
mostly exclusive and secondary markets across 43 states in the U.S.
and six provinces in Canada. Waste
Connections also provides non-hazardous oilfield waste treatment,
recovery and disposal services in several basins across the U.S.,
as well as intermodal services for the movement of cargo and solid
waste containers in the Pacific Northwest.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995 ("PSLRA"), including
"forward-looking information" within the meaning of applicable
Canadian securities laws. These forward-looking statements
are neither historical facts nor assurances of future performance
and reflect Waste Connections' current beliefs and
expectations regarding future events, including the potential
Offering and the Company's use of proceeds. These
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans," "may," "might,"
"will," "believes," "expects," "estimates," "intends," "could,"
"should," "anticipates" or the negative thereof or comparable
terminology, although not all forward-looking statements contain
these identifying words. All of the forward-looking
statements included in this press release are made pursuant to the
safe harbor provisions of the PSLRA and applicable Canadian
securities laws. Forward-looking statements involve risks,
assumptions and uncertainties. Important factors that could
cause actual results to differ, possibly materially, from those
indicated by the forward-looking statements include, but are not
limited to, risk factors detailed in the preliminary prospectus
supplement and the accompanying base prospectus, which are both a
part of the Registration Statement, the Company's Annual Report on
Form 10-K for the fiscal year ended December
31, 2021 and those risk factors set forth from time to time
in the Company's other filings with the SEC and the securities
commissions or similar regulatory authorities in Canada. You
should not place undue reliance on forward-looking statements,
which speak only as of the date of this press release.
Waste Connections undertakes no obligation to update the
forward-looking statements set forth in this press release, whether
as a result of new information, future events, or otherwise, unless
required by applicable securities laws.
CONTACT:
|
|
Mary Anne Whitney /
(832) 442-2253
|
Joe Box / (832)
442-2153
|
maryannew@wasteconnections.com
|
joe.box@wasteconnections.com
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SOURCE Waste Connections, Inc.