secwatch.observer — SEC 8-K summary
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Issuer:     Waste Connections, Inc. (WCN)
CIK:        0001318220
Form:       8-K
Filed at:   2022-11-01T23:59:59+00:00
Accession:  0001104659-22-113571
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1318220/000110465922113571/0001104659-22-113571-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1318220/000110465922113571/tm2229332d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-113571

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