Waste Connections Announces C$700M Senior Notes Offering

What Happened

• Waste Connections, Inc. announced on July 27, 2026 that it entered into an underwriting agreement to offer C$700 million aggregate principal amount of Canadian-dollar senior notes: C$300 million of 4.200% Senior Notes due 2033 and C$400 million of 4.550% Senior Notes due 2036. The agreement names CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc. and other underwriters. The Company issued press releases the same day announcing the launch and pricing of the offering.

Key Details

• Offering size: C$700 million total (C$300M due 2033 at 4.200%; C$400M due 2036 at 4.550%).
• Date and filing: Underwriting Agreement and prospectus supplement dated July 27, 2026; offering registered under the Company’s Form S-3ASR (File No. 333-282813) and filed under Rule 424(b).
• Distribution: Made on a private placement basis in Canada under a Canadian offering memorandum that includes the prospectus supplement.
• Underwriter relationships: Certain underwriters/affiliates have or may have other banking relationships with Waste Connections and may indirectly receive a portion of proceeds through the Company’s credit facility; the Company agreed to customary indemnities to the underwriters.

Why It Matters

• This transaction, if completed, would raise C$700 million of longer-term debt in Canadian dollars, increasing the company’s funded borrowing. Investors should note the interest rates (4.200% and 4.550%) and maturities (2033 and 2036) when assessing future interest expense and maturity profile. The filing also warns that closing is subject to market conditions and other customary approvals, so completion is not guaranteed.