01—Abstract
Summary
Summary of the 8-K filed July 28, 2026. Cited figures are marked; the original filing is the authoritative source.
Waste Connections, Inc. (TSX/NYSE: WCN) announced on July 27, 2026 that it priced an underwritten public offering in the U.S. and a private placement in Canada of C$700 milliona of Canadian dollar-denominated senior notes.
The offering consists of C$300 millionb of 4.200% Senior Notes due 2033, priced at 99.838% of face value, and C$400 million of 4.550% Senior Notes due 2036, priced at 99.611% of face value. The Underwriting Agreement with CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc., and the other named underwriters, was entered into on July 27, 2026. The Company expects net proceeds of approximately C$691.9 million after underwriting fees and estimated offering expenses.
It intends to use these proceeds, together with cash on hand, to repay a portion of the Canadian dollar-denominated borrowings outstanding under its revolving credit facility. The offering is expected to close on August 4, 2026, subject to market conditions and customary closing conditions. The notes will be senior unsecured obligations of the Company.
The filing also discloses that certain underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings with the Company, and that certain underwriters serve roles under the revolving credit facility and will indirectly receive a portion of the offering proceeds. The offering is registered under a Form S-3ASR shelf registration statement (File No. 333-282813).
02—Key points
Key Highlights
- Priced C$700 million of senior notes in total: C$300 million of 4.200% notes due 2033 and C$400 million of 4.550% notes due 2036.
- 2033 Notes priced at 99.838% of face value; 2036 Notes priced at 99.611% of face value.
- Expected net proceeds of approximately C$691.9 million after underwriting fees and estimated offering expenses.
- Proceeds, together with cash on hand, will repay a portion of Canadian dollar-denominated borrowings under the revolving credit facility.
- Notes are senior unsecured obligations; offering expected to close on August 4, 2026, subject to customary conditions.
- Offering conducted via a U.S. underwritten public offering under an effective shelf registration (filed October 24, 2024) and a Canadian private placement.
- Certain underwriters and affiliates have existing commercial relationships with the Company and will indirectly receive a portion of proceeds through their roles in the revolving credit facility.
03—Questions
Frequently Asked Questions
How much debt is Waste Connections raising, and at what terms?
The Company is issuing C$700 million in aggregate principal amount of senior notes: C$300 million of 4.200% notes due 2033 and C$400 million of 4.550% notes due 2036. The 2033 Notes were priced at 99.838% of face value and the 2036 Notes at 99.611% of face value.
What will the company do with the proceeds?
The Company expects net proceeds of approximately C$691.9 million, which, together with cash on hand, are expected to be used to repay a portion of the Canadian dollar-denominated borrowings outstanding under its revolving credit facility.
When is the offering expected to close, and is closing assured?
The offering is expected to close on August 4, 2026. Closing is subject to market conditions and customary closing conditions, and the filing states there can be no assurance the offering will be completed as described or at all.
Do the underwriters have other relationships with the Company?
Yes. The filing states that certain underwriters and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings with the Company, and that certain underwriters serve roles under the revolving credit facility and will indirectly receive a portion of the offering proceeds.
04—Continue