ADS Waste seeks $1.8 billion term loan repricing at Libor plus 300 bps

By Sara Rosenberg

New York, Jan. 28 - ADS Waste Holdings Inc. is looking to reprice its $1.8 billion covenant-light term loan due October 2019 to Libor plus 300 basis points with a 1.25% Libor floor from Libor plus 400 bps with a 1.25% Libor floor, according to a market source.

The repriced loan will have 101 soft call protection for six months, the source said.

Existing lenders are getting paid out at 101 due to current call protection.

Commitments are due on Feb. 4.

Deutsche Bank Securities Inc. is the lead bank on the deal.

ADS Waste is a Jacksonville, Fla.-based provider of integrated, non-hazardous solid waste collection, transfer, recycling and disposal services.

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