TORONTO, Feb. 15,
2024 /PRNewswire/ -- Waste Connections, Inc.
(TSX/NYSE: WCN) ("Waste Connections" or the "Company") announced
today that it plans to proceed, subject to market and other
conditions, to offer senior notes (the "Notes") in an underwritten
public offering (the "Offering"). The Notes will be senior
unsecured obligations of the Company. Waste Connections
intends to use the net proceeds from the Offering to repay a
portion of the borrowings outstanding under its revolving credit
facility and a portion of the term loan outstanding under its term
credit facility, in each case provided under its credit
agreement.
BofA Securities, J.P. Morgan, PNC Capital Markets LLC and Truist
Securities are acting as joint book-running managers and
underwriters for the Offering. The Offering will be 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 preliminary prospectus supplement and the
accompanying base prospectus for the Offering may be obtained by
contacting BofA Securities, Inc. at 201 North Tryon Street,
NC1-022-02-25, Charlotte, NC
28255-0001, Attention: Prospectus Department, at
dg.prospectus_requests@bofa.com or by telephone at
1-800-294-1322, J.P. Morgan Securities LLC at c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department or by telephone at 1-866-803-9204, PNC Capital Markets
LLC at 300 Fifth Avenue, 10th Floor, Pittsburgh, PA 15222, Attention: Debt Capital
Markets, Fixed Income Transaction Execution, at
pnccmprospectus@pnc.com or by telephone toll-free at 855-881-0697
or Truist Securities, Inc. at 3333 Peachtree Road NE, 9th Floor,
Atlanta, GA 30326,
Attention: Prospectus Department, at
TruistSecurities.prospectus@Truist.com or by telephone at
800-685-4786. Copies of the preliminary 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, including by rail, along with resource recovery primarily
through recycling and renewable fuels generation. The Company
serves approximately nine 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. and Canada, as well as intermodal services for the
movement of cargo and solid waste containers in the Pacific
Northwest. Waste Connections views its Environmental, Social and
Governance ("ESG") efforts as integral to its business, with
initiatives consistent with its objective of long-term value
creation and focused on reducing emissions, increasing resource
recovery of both recyclable commodities and clean energy fuels,
reducing reliance on off-site disposal for landfill leachate,
further improving safety and enhancing employee engagement.
Safe Harbor and Forward-Looking Information
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 "may," "might," "believes," "thinks,"
"expects," "estimate," "continue," "intends" or other words of
similar meaning. 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. Forward-looking statements in
this press release include, but are not limited to, statements
about the timing and other elements of the Offering. 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 and
the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2023, 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
|
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.