Waste Industries gets $200 million amended and restated revolver

By Sara Rosenberg

New York, March 27 - Waste Industries USA Inc. closed on a $200 million amended and restated revolving credit facility due October 2009, according to a company news release.

Banc of America Securities was arranger on the deal with Bank of America as administrative agent, Branch Banking and Trust Co. as documentation agent and Wachovia Bank as syndication agent. Other participant banks include Comerica, RBC Centura and LaSalle Bank.

There's a $300 million accordion feature contained in the deal.

The amended and restated revolver replaces the company's previous revolver that was set to mature in February 2007.

Financial covenants under the new revolver are generally less restrictive than those in the prior facility and include leverage covenants and an interest coverage covenant.

Waste Industries is a Raleigh, N.C.-based non-hazardous solid waste services company.

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