Waste Services to get $50 million incremental term loan debt

By Sara Rosenberg

New York, Dec. 13 - Waste Services Inc. plans to get $50 million of incremental term loan debt that will contain substantially the same terms as its existing term loan C, according to a company news release.

The new bank debt will be divided into a $25 million funded term loan tranche and a $25 million delayed-draw term loan tranche.

Proceeds from the funded portion will be used to repay existing revolver borrowings and proceeds from the delayed-draw portion will be available for future acquisitions.

"This refinancing will provide the company with additional liquidity and flexibility as we pursue our growth plans for 2006," said David Sutherland-Yoest, chairman and chief executive officer, in the release.

Waste Services is a Burlington, Ont.-based multi-regional integrated solid waste services company.

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