Waste Connections calls 5½% convertibles

New York, March 3 - Waste Connections, Inc. said it will redeem all its outstanding 5½% convertible subordinated notes due 2007 on April 15.

The Folsom, Calif. solid waste services company currently has $150 million principal amount of the securities outstanding.

Up to 5 p.m. ET on April 14, holders can convert the notes into common stock at a price of $38.03 per share. Waste Connections stock closed at $38.61 on March 3.

The redemption price for notes converted will be $1,049.50 per $1,000 principal amount, made up of a call price of $1,022.00 plus $27.50 of accrued interest. Waste Connections said it is better to convert if its stock is above $38.87.

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