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Waste Pro USA, Inc. Reinforces Growth with Bond Reoffering

In a significant move to advance its financial sustainability and support for waste management infrastructure, Waste Pro USA, Inc., a prominent player in the non-hazardous waste services sector, has successfully completed the sale and reoffering of the Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds, totaling $120 million. This strategic financial maneuver comes as a testament to Waste Pro's robust operational framework and commitment to expanding its capital resources.

What are the Solid Waste Disposal Revenue Bonds?

The reoffered bonds feature a 4.50% interest rate, and are scheduled to mature on July 1, 2032. This offering enables Waste Pro to secure long-term financing for its ongoing projects and infrastructural development, thereby enhancing its capacity in waste management across the southeastern United States. These bonds are quite instrumental in ensuring that the company maintains a competitive edge in an ever-evolving market landscape.

Sean Jennings, the CEO of Waste Pro, highlighted the importance of this financial undertaking: “Waste Pro's continued access to the capital markets is a testament to our disciplined growth and the hard work of our dedicated team members.” This sentiment encapsulates the ethos of Waste Pro, reflecting its focus on unwavering growth and strategic investment in essential solid waste services.

Stability and Growth Amid Market Fluctuations

As a privately-owned entity, Waste Pro is well-positioned to navigate through varying market conditions. Jennings emphasized how this stable foundation allows the company to bypass transient market fluctuations and confidently finance vital solid waste infrastructure projects. Cort Sabina, the company's CFO, reiterated this sentiment, stating, “Optimizing our balance sheet with long-term debt remains a priority.” According to him, tax-exempt financing options, such as these reoffered bonds, are pivotal in supporting Waste Pro's ongoing strategic growth.

The successful execution of this $120 million reoffering in what is described as a dynamic market underscores both the strength of Waste Pro's business model and the confidence it has garnered from institutional investors. With Barclays Capital Inc. acting as the lead bookrunner, and additional support from BofA Securities, Inc. and J.P. Morgan Securities LLC, the company's approach to engaging with financial institutions showcases its commitment to sound financial management.

Future Prospects for Waste Pro USA

Looking ahead, Waste Pro's operational scope continues to broaden, with the company servicing over 2.5 million residential and 50,000 commercial clients throughout its 119 operational locations across the southeastern states. It undertakes nearly 300 exclusive municipal contracts, showcasing its significant footprint in the waste management sector.

As Waste Pro USA, Inc. embarks on this new chapter following the bond reoffering, stakeholders are optimistic about the potential it holds for both environmental contribution and community service. By reinforcing its financial stability, the company ensures it can effectively cater to the growing waste management needs of the communities it serves, while ensuring significant returns to its investors amidst an uncertain economic climate.

In conclusion, as Waste Pro USA, Inc. showcases its progressive stance through this $120 million reoffering of solid waste disposal revenue bonds, it continues to pave the way for long-term infrastructural investments and commitments to sustainability in waste management services. The move not only highlights the firm's resilience but also its dedication to improving essential services that contribute to a cleaner and greener future.

Contact Information

For further inquiries, Tracy Meehan, Communications Director, may be reached at (407) 883-3791. Additionally, investors can contact Ryan LeBeau, Vice President of Finance, at (407) 937-2675.