Waste Connections’ $500 Million Senior Notes Offering

Latham & Watkins represented Waste Connections in the transaction, while Simpson Thacher represented BofA Securities, J.P. Morgan Securities LLC, MUFG Securities Americas, Wells Fargo Securities, CIBC Capital Markets , PNC Capital Markets, Fifth Third Securities and Truist Securities who acted as Underwriters on the deal.

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.

Waste Connections is the third largest solid waste management company in North America with a network of operations in 41 states and 6 provinces.

Latham & Watkins represented Waste Connections, Inc. in the transaction with a corporate deal team led by Houston partners John Greer (Picture) 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.

The Simpson Thacher team included Roxane Reardon and Matt Petrone (Capital Markets); Jonathan Cantor and Brian Mendick (Tax); Larry Moss and Meredith Brenton (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Genevieve Dorment and Samuel Watters (Intellectual Property); and Jennie Getsin (FINRA).

Involved fees earner: Michael Basist – Latham & Watkins; Bora Bozkurt – Latham & Watkins; Max Fin – Latham & Watkins; Ted Gkoo – Latham & Watkins; John Greer – Latham & Watkins; Matthew Jones – Latham & Watkins; Craig Kornreich – Latham & Watkins; Denny Lee – Latham & Watkins; Ryan Lynch – Latham & Watkins; Jocelyn Noll – Latham & Watkins; Morgen Seim – Latham & Watkins; Anthony Tan – Latham & Watkins; Meredith Brenton – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Matthew Petrone – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Samuel Watters – Simpson Thacher & Bartlett;

Law Firms: Latham & Watkins; Simpson Thacher & Bartlett;

Clients: BofA Securities India Limited (DSP Merrill Lynch Limited); CIBC Capital Markets; Fifth Third Securities, Inc.; JP Morgan; MUFG; PNC Capital Markets LLC; Truist Securities Inc. ; Waste Connections; Wells Fargo Securities;