March 03, 2022
Waste Connections, Inc. (TSX/NYSE: WCN) (Waste Connections) has announced that it has priced an underwritten public offering (the "Offering") of US$500 million aggregate principal amount of its 3.2% Senior Notes due 2032 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 US$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.
Latham & Watkins LLP represents Waste Connections, Inc. in the transaction with a corporate deal team led by Houston partners John Greer and Ryan Lynch, with associates Denny Lee, Anthony Tan, Michael Basist, and Morgen Seim. Advice was also provided on finance matters by Houston partners Craig Kornreich and Matthew Jones, with associate Max Fin; and on tax matters by New York partners Jocelyn Noll and Bora Bozkurt, with London associate Ted Gkoo.