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Waste Connections Inc. said it plans to make a public stock offering of 12 million common shares.
The Woodlands, Texas-based waste and recycling company said in a news release it intends to use the net proceeds to repay the unhedged portion of outstanding borrowings under its senior revolving credit facility. The firm will use any remaining net proceeds for general purposes, including possible acquisitions of additional assets or businesses, the repayment of other indebtedness, capital expenditures and increasing working capital.
Morgan Stanley is serving as the sole underwriter for the offering.
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