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Waste Services to offer additional $50M of notes

Waste Services to offer additional $50M of 9.5 percent senior subordinated notes due 2014

  • On 11:22 am EDT, Wednesday September 16, 2009

BURLINGTON, Ontario (AP) -- Canada-based garbage hauler Waste Services Inc. said Wednesday it plans to offer an additional $50 million of its 9.5 percent senior subordinated notes due 2014.

The company said the terms of the offering will be the same as its current offering of $160 million of 9.5 percent senior subordinated notes due 2014. The notes will be offered only to qualified institutional buyers.

Net proceeds will be used for general corporate purposes, including the repayment of outstanding debt under Waste Services' revolving credit facility, and potential acquisitions.

Shares of Waste Services slid 2 cents to $4.52 in morning trading.

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