On Tuesday June 7, 2011, 2:28 pm EDT
HOUSTON (AP) — Trash hauler WCA Waste Corp. said Tuesday it intends to buy about $ 101 million of notes due 2014 as part of a tender offer launched last month.
The purchase amount represents about 67 percent of the outstanding principal on the 9.25 percent notes in the offering that began on May 23.
WCA is paying $ 1,027, plus accrued and unpaid interest, for each $ 1,000 principal amount of the notes.
Some $ 49 million in the notes due 2014 will remain outstanding once WCA buys the notes accepted in the offering.
The tender offer is set to expire on June 21.
WCA Waste also said that its offering of $ 175 million of its 7.5 percent senior notes due 2019 to institutional buyers has closed.
The company expects to use the net proceeds from the offering to repay existing debt.
Shares added 9 cents to $ 6.05 in afternoon trading.
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