Waste Pro talks $450 million eight-year notes at 5 5/8% area yield; pricing Thursday

By Paul A. Harris

Portland, Ore., Jan. 24 – Waste Pro USA Inc. talked its $450 million offering of eight-year senior notes (B3/B+) to yield in the 5 5/8% area, according to a syndicate source.

Books were scheduled to close on Wednesday, except for accounts with meetings scheduled subsequent to 4 p.m. ET on Wednesday.

The Rule 144A and Regulation S for life deal is set to price Thursday morning.

Lead left active bookrunner Wells Fargo Securities LLC will bill and deliver. Regions Bank and SunTrust Robinson Humphrey Inc. are the joint passive bookrunners. Raymond James is the co-manager.

The notes will become callable after three years at par plus 75% of the coupon.

The Longwood, Fla.-based solid waste services company plans to use the proceeds to refinance its existing credit facilities.

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