For Immediate Release
Media Contact: Tracy Meehan
Communications Director
(407) 883-3791
Investors: Ryan LeBeau
Vice President of Finance
(407) 937-2675
LONGWOOD, FL – July 1, 2026 – Waste Pro USA, Inc. (“Waste Pro”), a regional privately-held provider of non-hazardous waste collection, transfer, recycling and disposal services, announced today that it has completed the sale of $150,000,000 Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds (Waste Pro USA, Inc. Project), Series 2026 (the “Bonds”).
During the initial five-year term interest rate period, the interest rate on the Bonds will be 4.35% with a maturity of April 1, 2037. The Bonds are guaranteed by certain subsidiaries of Waste Pro pursuant to a guaranty agreement and as described in the indenture relating to the Bonds.
“This year marks our 25th anniversary. My father, John Jennings, founded Waste Pro in 2001 with a single truck and a commitment to do right by our customers, employees, and communities,” said Sean Jennings, Chief Executive Officer of Waste Pro. “From that single truck to a fleet of more than 4,300 vehicles and over 5,500 employees across ten states, we have always built for the long term, with our sights set firmly on the next 100 years.”
“Since completing our first tax-exempt financing in August 2017, Waste Pro has grown its tax-exempt debt portfolio from zero to approximately $736.7 million in under nine years,” said Cort Sabina, Chief Financial Officer of Waste Pro. “The Bonds were significantly oversubscribed, with broad support from both new and existing institutional investors. Optimizing our balance sheet toward long-term, fixed-rate debt remains a priority, and these tax-exempt financings have become a cornerstone of our capital structure.”
Barclays Capital Inc. served as senior manager and sole bookrunner, with BofA Securities, Inc. and J.P. Morgan Securities LLC serving as co-managers, for the Bonds. CTBH Partners LLC served as financial advisor to Waste Pro. Greenberg Traurig served as counsel to Waste Pro.
The Bonds were offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Bonds have not been and are not required to be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Bonds, nor shall there be any sale of the Bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Waste Pro USA, Inc.
Waste Pro USA, Inc. is one of the country’s fastest-growing privately owned non-hazardous solid waste collection, recycling, processing and disposal companies, operating in ten southeastern states. Waste Pro serves more than 2.5 million residential and 50,000 commercial customers from 130 operating locations. Waste Pro is headquartered in Longwood, Florida, and maintains nearly 300 exclusive municipal contracts and franchises.
Safe Harbor Statement
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as Waste Pro “will,” “intends,” and other similar expressions. Among the forward-looking statements in this press release are statements regarding the offering and sale of the Bonds. All of these forward-looking statements are based on current expectations and estimates and management’s beliefs and assumptions. Waste Pro expressly disclaims any obligation to update such statements to reflect any change in its expectations whether as a result of new information, future events or otherwise, except as required.
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