Waste Connections amends note purchase agreement, ups limit on restricted payments by $100 million

By Lisa Kerner

Charlotte, N.C., Feb. 26 – Waste Connections, Inc. entered into a fifth amendment to its July 15, 2008 master note purchase agreement on Feb. 20.

The amended agreement increases the amount of permitted investments in other lines of business from to $100 million from $50 million, according to a form 8-K filed with the Securities and Exchange Commission.

Also, the amended agreement increases the limit on certain restricted payments, including dividends and share repurchases, in any fiscal year to $300 million from $200 million. The limit applies whenever the company’s leverage ratio exceeds 3.0 to 1.0.

Waste Connections is a Folsom, Calif.-based solid waste services company.

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