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Be the first with the news that moves the market- Waste Connections Inc (TSX:WCN) are offering senior notes due in 2050.
- Waste Connections has a market cap of $26.61 Billion
- Company intends to use the net proceeds from this offering to repay some other outstanding credit, and for other core business needs.
- Waste Connections is a non-hazardous solid waste services company that operates in the U.S and Canada.
- Waste Connections (TSX:WCN) stock is up 2.53 per cent to $100.99 a share, with a market cap of $29 billion
Waste management services company Waste Connections Inc (TSX:WCN) is offering unsecured underwritten credit notes.
The company, with a market cap of $26.61 Billion, has secured JP Morgan, MUFG and Wells Fargo Securities as joint book-running managers.
This move comes on the back of news that revenue had reached $5.39 Billion, up nearly 10% on revenue this time last year.
It has been a good couple of weeks for the waste services giant, with shares hitting an all time high-water mark of $104.67 on February 18th.
This was following the initial offering of bonds in January, which were offered at a return date of 2030, with the company aiming to raise $600 million.
Last year, the company went through significant change, with new CEO Worthing F Jackman stepping into the role.
Waste Connections Inc. have collection, transfer, disposal and recycling services in locations in both the U.S and Canada.
They are also major players in providing oilfield waste treatment, recovery and disposal services in several resource rich areas in the U.S
The company is primarily focused on the installation and removal of dumpsters.
The company services over 7 million residential, commercial, industrial and exploration and production customers in 42 states in the U.S and six Canadian provinces.
The company also provides the movement of cargo and solid waste containers in the Pacific North West.
Waste Connections Inc (WCN) stock is up 2.53 per cent, trading at $100.99 at 12:37 pm EST.
