---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-113571"
form_type: "8-K"
ticker: "WCN"
cik: "0001318220"
company_name: "Waste Connections, Inc."
filed_at: "2022-11-01T23:59:59+00:00"
generated_at: "2026-06-22T17:28:59.125897+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Waste Connections closes $800M term loan, replaces LIBOR with SOFR in credit facility

## Summary
- Entered $800M unsecured term loan due July 30, 2026; proceeds to repay revolving borrowings.
- Interest rate based on Term SOFR plus 0.75%-1.25% margin (or base rate plus 0%-0.25%), with 0.10% credit spread adjustment.
- Financial covenant limits total funded debt/EBITDA to 3.75x (4.25x during acquisition periods).
- Amended existing Credit Agreement to replace LIBOR-based benchmarks with Term SOFR; no material change in interest rate.
- Term loan fully drawn on Oct 31, 2022; no reborrowings permitted.

## SEC filing metadata
- accession: 0001104659-22-113571
- form_type: 8-K
- ticker: WCN
- cik: 0001318220
- company_name: Waste Connections, Inc.
- filed_at: 2022-11-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1318220/000110465922113571/0001104659-22-113571-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1318220/000110465922113571/tm2229332d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-113571
- JSON: https://secwatch.observer/filing/0001104659-22-113571.json
- Plain text: https://secwatch.observer/filing/0001104659-22-113571.txt

## Key facts
- Debt Financings
  Waste Connections, Inc. amended credit facility with Bank of America, N.A., as the global agent, the swing line lender and an l/c issuer, Bank of America, N.A., as the U.S. agent and an l/c issuer, and the lenders and any other financial institutions from time to time party thereto at Term SOFR plus a credit spread adjustment of 0.10% per annum.
  - Instrument: credit facility
  - Counterparty: Bank of America, N.A., as the global agent, the swing line lender and an l/c issuer, Bank of America, N.A., as the U.S. agent and an l/c issuer, and the lenders and any other financial institutions from time to time party thereto
  - Rate: Term SOFR plus a credit spread adjustment of 0.10% per annum
  - Event: amendment
  source text: the credit spread adjustment applicable to Term SOFR loans is a flat 0.10% per annum across all applicable interest periods instead of a varying credit spread adjustment across the same interest periods ranging from 0.11448% to 0.42826%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318220/000110465922113571/0001104659-22-113571-index.htm
- Debt Financings
  Waste Connections, Inc. incurred term loan of $800 million with Bank of America, N.A., as administrative agent, and the other lenders from time to time party thereto at SOFR plus an applicable margin ranging from 0.750% to 1.250% per annum maturing July 30, 2026.
  - Instrument: term loan
  - Principal: $800 million
  - Counterparty: Bank of America, N.A., as administrative agent, and the other lenders from time to time party thereto
  - Rate: SOFR plus an applicable margin ranging from 0.750% to 1.250% per annum
  - Maturity: July 30, 2026
  - Event: incurrence
  source text: the New TL Lenders made loans to the Company in an aggregate stated principal amount of $800 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1318220/000110465922113571/0001104659-22-113571-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.