Waste Connections to redeem all $200 million in 3.75% convertibles

By Devika Patel

Knoxville, Tenn., Feb. 8 - Waste Connections Inc. announced it will redeem all $200 million of its remaining 3.75% senior convertible notes due 2026 at par plus interest to April 1, the redemption date.

Holders may convert their securities until 5 p.m. ET on March 31. The conversion price is $34.00 per share, which is equivalent to a conversion rate of approximately 29.4118 shares per $1,000 in notes.

On Feb. 8, the company's common stock (NYSE:WCN) closed at $30.96 per share.

The redemption will be funded with borrowings under the company's credit facility.

Waste Connections provides solid waste collection, transfer, disposal and recycling and is based in Folsom, Calif.

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