Waste Connections Prices $600 Million Senior Notes Due 2036
WCN is trading near its 52-week low of $155.65 (9.7% above the low).
Summary
Waste Connections, Inc. has finalized the terms for its offering of $600 million in 4.800% Senior Notes due 2036, with settlement expected on March 16, 2026.
Key Events · Financing and Capital Events · WCN
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Senior Notes Offering Priced
Waste Connections, Inc. priced $600 million of 4.800% Senior Notes due 2036, with a public offering price of 99.732% of face amount and a yield to maturity of 4.834%.
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Investment-Grade Debt
The notes carry investment-grade ratings of A3 (Moody's), BBB+ (S&P), and A- (Fitch), reflecting the company's strong credit profile.
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Settlement Date Confirmed
Settlement for the notes is expected on March 16, 2026, following a T+7 settlement cycle.
Analysis · WCN · Energy & Transportation
This Free Writing Prospectus finalizes the pricing and terms for Waste Connections' $600 million senior notes offering, following a preliminary prospectus supplement filed earlier today. The issuance of these 4.800% notes, maturing in 2036, represents a substantial capital raise for the company. With solid investment-grade credit ratings (A3/BBB+/A-), the company is accessing the debt markets on favorable terms, which is a standard practice for funding general corporate purposes, potential acquisitions, or refinancing existing debt. While it increases the company's leverage, it provides significant capital without direct equity dilution, building on the strong financial results reported in the recent 10-K.
At the time of this filing, WCN was trading at $170.73 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $43.7B. The 52-week trading range was $155.65 to $201.66. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.