Waste360 is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Need to Know

Advanced Disposal Considering Debt Restructuring

Article-Advanced Disposal Considering Debt Restructuring

Advanced Disposal Services is holding a meeting with potential lenders to consider a debt restructuring.

Advanced Disposal Services announced that it has invited certain prospective lenders to a meeting scheduled for October 21, 2016, for purposes of considering a potential debt refinancing, consisting of a $1.8 billion new senior secured credit facility and an offering of $425 million in senior unsecured notes. The intended use of the proceeds of the potential refinancing, if effected, would be for, among other purposes, the repayment in full of the company’s existing senior secured term loan B facility and revolving credit facility and refinancing of the Company’s 8¼ percent Senior Notes due 2020, and related fees and expenses.

Advanced Disposal began trading on the New York Stock Exchange earlier this month.

The company intended to use the net proceeds from the shares offered to repay outstanding borrowings under the Term Loan B portion of its senior secured credit facilities.

The IPO came less than two months after Canada Pension Plan Investment Board (CPPIB) completed a $280 million investment in Series B Preferred Units of Star Atlantic Waste Holdings II L.P., which is an investment partnership sponsored by Highstar Capital and the principal owner of Advanced Disposal Services.

TAGS: Haulers
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.