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Latham & Watkins Advises Waste Connections in its US$1.5 Billion Senior Notes Offering

September 9, 2021
A corporate deal team advises the integrated solid waste services company in the transaction.

Waste Connections, Inc. (TSX/NYSE: WCN) has announced that it has priced an underwritten public offering (the Offering) of (i) US$650 million aggregate principal amount of 2.2% Senior Notes due 2032 (the 2032 Notes) at a price to the public of 99.836% of their face value, and (ii) US$850 million aggregate principal amount of 2.95% Senior Notes due 2052 at a price to the public of 98.501% of their face value (together with the 2032 Notes, the Notes). Net proceeds to Waste Connections from the Offering are expected to be approximately US$1.471 billion, after deducting underwriting fees and estimated Offering expenses, and are expected to be used, together with borrowings under the Company's revolving credit facility provided under its credit agreement, to repay the US$1.5 billion aggregate principal amount outstanding of each series of its senior notes issued pursuant to its master note purchase agreements.

Latham & Watkins LLP represents Waste Connections, Inc. in the offering with a corporate deal team led by Houston partner John Greer, with associates Ryan Lynch, Kate Wang, Katie Walker, and Michael Basist. Advice was also provided on finance matters by Houston partners Craig Kornreich and Matthew Jones, with associates Max Fin, Matthew Snodgrass, and Daisy Clifton-Lee; on tax matters by New York partners Jocelyn Noll and Bora Bozkurt; and on environmental matters by Los Angeles counsel Aron Potash.