Waste Services gets consents needed to amend 9½% notes

By Angela McDaniels

Tacoma, Wash., Oct. 7 - Waste Services, Inc. said it received consents from holders of 100% of its 9½% senior subordinated notes due 2014 during a consent solicitation that expired at 5 p.m. ET on Oct. 6.

The consent solicitation began on Sept. 26 in connection with a proposed refinancing of the company's senior secured credit facilities.

The amendments will allow Waste Services' Canadian subsidiaries, upon becoming guarantors of the notes, to incur debt to the same extent as other guarantors of the notes, according to a company news release.

Noteholders will receive a consent payment equal to 0.75% of par per note.

Consummation of the consent solicitation was subject to the successful refinancing of the credit facilities and the receipt of consents from holders of at least a majority of the notes.

Barclays Capital Inc. (800 438-3242 or 212 528-7581) was the solicitation agent, and D.F. King & Co., Inc. (800 431-9645 or 212 269-5550) was the tabulation and information agent.

Waste Services is a solid waste management services company based in Burlington, Ont.

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