Waste Connections seeks $600M via notes offering

Toronto-based Waste Connections Inc. has announced it will offer senior notes in a public offering that will be underwritten by four United States-based banks.

Waste Connections, describing the notes as senior unsecured obligations, intends to use the proceeds, together with cash on hand, to repay a portion of the borrowings outstanding under its revolving credit facility.

The waste and recycling firm has priced the public offering at a $600 million aggregate principal amount resulting from 4.8 percent senior notes due in 2036 at a price to the public of 99.732 percent of their face value.

Waste Connections says the notes offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission in October 2024. The offering is expected to close March 16, subject to customary closing conditions, yielding net proceeds to Waste Connections of approximately $593 million.

Waste Connections lists four financial firms, all based in the U.S., as acting as joint book-running managers and underwriters for the offering; BofA Securities, J.P. Morgan, PNC Capital Markets LLC and Truist Securities.

The company is an integrated solid waste services company that provides nonhazardous waste collection, transfer, recycling and disposal services and renewable fuels generation in 46 states in the U.S. and six provinces in Canada.