Waste Connections lowers loan's interest rate, eliminates amortization

By Angela McDaniels

Tacoma, Wash., May 19 - Waste Connections, Inc. amended its term loan on Thursday, changing pricing and eliminating the obligation to make principal payments prior to maturity.

The amendment changed the margin over Libor to a range of 125 basis points to 200 bps from a range of 137.5 bps to 237.5 bps, according to an 8-K filing with the Securities and Exchange Commission.

The exact margin depends on the company's leverage ratio.

Bank of America, NA is the administrative agent.

Waste Connections is a Woodlands, Texas-based solid waste services company.

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