Waste Management Financing : American Company Closes On Solid Waste Disposal Revenue Bonds

Jun 9, 2021
Reading time: Less than a minute
Waste Pro USA, Inc. Announces Closing of $105.2 million Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds.
bin street garbage waste clean container recycle rubbish truck car recycling urban environment trash environmental dump industry refuse plastic collection industrial transportation service work worker equipment people road man transport sanitation disposal city outdoors vehicle machine action collector outdoor municipal junk dirty green lifting engine thai load scrap pollution management bin street garbage waste clean container recycle rubbish truck car recycling urban environment trash environmental dump industry refuse plastic collection industrial transportation service work worker equipment people road man transport sanitation disposal city outdoors vehicle machine action collector outdoor municipal junk dirty green lifting engine thai load scrap pollution management
© chartphoto - stock.adobe.com

Waste Pro USA, Inc. („Waste Pro“) is one of the USA’s fastest growing privately owned waste collection, recycling, processing and disposal companies, operating in nine southeastern states. Waste Pro serves more than two million residential and 40,000 commercial customers from over 90 operating locations. Headquartered in Longwood, Florida, it maintains more than 250 exclusive municipal contracts and franchises.

Waste Pro announced today that it has completed the sale of $105,175,000 Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds, Series 2021 (the “Bonds”).

The Bonds, which bear a 3.000% coupon for approximately 11 years, were priced at 104.584, with aggregate proceeds of approximately $110.0 million, to yield 2.375%. The Bonds will mature on June 1, 2032, and are guaranteed by certain subsidiaries of Waste Pro, pursuant to the terms of the indenture relating to the Bonds.

“I am pleased by the investment community’s continued confidence in Waste Pro’s financial strength and future growth,” stated Cort Sabina, Chief Financial Officer of Waste Pro. “This transaction, which was 9x oversold, marked our third tax-exempt bond offering.”

„The financial stewardship of our privately-owned company provides a stable platform for the long-term. Our company has grown from a single truck in 2001 to over 3,100 trucks today and revenues exceeding $790 million,” added Sean Jennings, Chief Executive Officer of Waste Pro.

Post Date
Jun 9, 2021
Last Update
Jan 4, 2022

Discover now