Waste Connections Announces Senior Notes Offering

BY PR Newswire | CORPORATE | 09/07/21 09:44 AM EDT

TORONTO, Sept. 7, 2021 /PRNewswire/ --?Waste Connections, Inc. ("Waste Connections (WCN)" or the "Company") announced today that it plans to proceed, subject to market and other conditions, to offer two series of senior notes due 2032 and 2052, respectively (the "Notes"), in an underwritten public offering (the "Offering"). The Notes will be senior unsecured obligations of the Company.? Waste Connections (WCN) intends to use the net proceeds from this offering, together with borrowings under its 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.

Waste Connections logo. (PRNewsFoto/Waste Connections, Inc.) (PRNewsFoto/WASTE CONNECTIONS_ INC_)

BofA Securities, J.P. Morgan, MUFG and Wells Fargo 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 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 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 (WCN)

Waste Connections (WCN) 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 (WCN) 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 (WCN) 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' (WCN) 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 (WCN) 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

maryannew@wasteconnections.com?



joe.box@wasteconnections.com

?

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SOURCE Waste Connections, Inc. (WCN)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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