Waste Connections, a prominent player in the North American solid waste management sector, announced on Monday its intentions for a significant debt offering.

This plan involves an underwritten public offering within the United States, coupled with a private placement across Canadian provinces. The focus is on issuing two series of senior notes denominated in Canadian dollars, with maturity dates set for 2033 and 2036.

The forthcoming notes are designated as the company's senior unsecured obligations. Waste Connections outlined that the net proceeds from this offering, combined with existing cash on hand, will be utilized to repay a portion of its outstanding Canadian dollar borrowings under its revolving credit agreement.

CIBC Capital Markets, Scotiabank, and TD Securities have been appointed as the joint book-running managers and underwriters for this transaction. The offering is being executed under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission on October 24, 2024.

Waste Connections operates as a comprehensive solid waste services provider. It serves approximately 9 million residential, commercial, and industrial customers across 46 U.S. states and six Canadian provinces. The company ranks as the third-largest in the North American waste industry by revenue, handling the collection, transfer, and disposal of non-hazardous waste, alongside resource recovery through recycling and renewable energy generation from waste.

This move follows a successful $600 million senior note offering completed in March, which featured 4.800% notes due in 2036, used to repay borrowings under its revolving credit facility. That prior offering was managed by joint book-runners including BofA Securities, J.P. Morgan, PNC Capital Markets, and Truist Securities.