TORONTO, Sept. 20, 2021 /CNW/ -- 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."
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. The Company serves more than
seven million residential, commercial and industrial customers in
mostly exclusive and secondary markets across 44 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. For more information, visit Waste
Connections at www.wasteconnections.com.
Safe Harbor and 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 and operating performance. These
forward-looking statements can be identified by the use of
forward-looking terminology such as "believes," "expects,"
"intends," "may," "might," "will," "could," "should" or
"anticipates," or the negative thereof or comparable terminology,
or by discussions of strategy. 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 and
uncertainties. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements include, but are not limited to, risk factors detailed
from time to time in the Company's 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.