WCA Waste to Issue $175 Million in Senior Notes

From the Waste Age staff

Houston-based WCA Waste Corp. announced Monday that it will offer $175 million in senior notes to “qualified institutional buyers” to help repay some of the company’s debt. The notes will be due in 2019, according to a company press release.

During the first quarter of this year, WCA posted a net loss of $1.7 million on $58 million in revenue. Both figures are improvements from their first-quarter 2010 counterparts. During the first three months of last year, WCA Waste posted a net loss of $1.9 million on $52.3 million in revenue.

For 2011, the firm has set revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) goals of $270 million and $61 million, respectively.

RELATED RESOURCE:

• WCA Waste Corp. Announces $175 Million Senior Notes Offering (press release)