Waste Connections, Inc. (NYSE: WCN) has announced that on April 1, 2010, they plan to redeem all of its 3.75% Senior Convertible Notes due 2026. The total principal amount of the notes outstanding is $200 million. The holders of such notes, may have them redeemed at par plus a make-whole payment, pursuant to the terms of the Indenture governing the Notes, together with accrued and unpaid interest to the redemption date.
Xplosive Stocks, an online financial publication, provides investors timely stock market information.
Sign Up Today for our Free Stock Newsletter
Instead, the holders have the option to choose to convert their notes pursuant to the terms of the indenture, before 5:00pm (EST), on March 31, 2010. The conversion price will be $34.00 per share, which is equivalent to a conversion rate of approximately 29.4118 shares of their common stock for each $1,000 principal amount of notes. The company is planning to fund the repurchase or any conversion by using money borrowed through its credit facility.
Waste Connections, Inc. is an integrated solid waste services company that provides solid waste collection, transfer, disposal and recycling services in mostly secondary markets in the Western and Southern U.S. The Company serves approximately two million residential, commercial and industrial customers from a network of operations in 26 states.
Sign up for the free Xplosive Stocks newsletter. Investors interested in receiving small cap stock alerts through the penny stock newsletter published by Xplosive Stocks can sign up for free by visiting our website.
About Us
Xplosive Stock is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We focus on Xplosive Stocks and track small cap companies that are on the brink of a financial breakout. To feature a company on our website please contact us at the email listed below.
Please click here to read the full disclaimer.
