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Waste Connections Acquiring Operations from Waste Management
Waste Connections, Inc. has signed an agreement to acquire certain operations in the Southeast from a subsidiary of Waste Management, Inc. The operations being acquired provide collection, transfer and disposal services. The facilities have revenue of about $22 million. Completion of the acquisition is subject to local consents, which are expected to be obtained within 60 days.
Waste Connections also announced that it has completed the refinancing of its senior credit facility. The refinancing reduces the company's revolving credit facility from $850 million to $750 million, lowers its current interest rates on the facility, extends the revolving credit facility's maturity by an additional year to January 2012, and includes pre-approval to increase the facility size by an additional $250 million in the future. The Company currently has approximately $450 million utilized and an additional $550 million of either available or pre-approved capacity under its revolving credit facility.
Friday, November 17, 2006
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