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ADS Waste ups spread on $1.78 billion term loan to Libor plus 300 bps
By Sara Rosenberg
New York, Feb. 6 - ADS Waste Holdings Inc. increased pricing on its $1,782,000,000 covenant-light term loan due October 2019 to Libor plus 300 basis points from Libor plus 275 bps, according to a market source.
The loan still has a 0.75% Libor floor, a par offer price and 101 soft call protection for six months.
Deutsche Bank Securities Inc. is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan from Libor plus 300 bps with a 1.25% Libor floor.
ADS Waste is a Jacksonville, Fla.-based provider of integrated, non-hazardous solid waste collection, transfer, recycling and disposal services.
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