TORONTO, Sept. 7, 2021 /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 (i) $650 million aggregate principal amount of
2.200% Senior Notes due 2032 (the "2032 Notes") at a price to the
public of 99.836% of their face value, and (ii) $850 million aggregate principal amount of
2.950% Senior Notes due 2052 at a price to the public of
98.501% of their face value (together with the 2032 Notes, the
"Notes"). The Offering is expected to close on September 20, 2021, subject to customary closing
conditions. Net proceeds to Waste Connections from the
Offering are expected to be approximately $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
$1.5 billion aggregate principal
amount outstanding of each series of its senior notes issued
pursuant to its master note purchase agreements.
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 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.
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 are often identified by the words
"plans," "may," "might," "will," "believes," "expects,"
"estimates," "intends," "could," "should," "anticipates" or other
words of similar meaning, 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
securities laws in Canada. 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, 2020 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
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Joe Box / (832)
442-2153
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maryannew@wasteconnections.com
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joe.box@wasteconnections.com
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SOURCE Waste Connections, Inc.