For Immediate Release
Media Contact: Tracy Meehan
Communications Director
(407) 883-3791
tmeehan@wasteprousa.com
Investors: Ryan LeBeau
Vice President of Finance
(407) 937-2675
rlebeau@wasteprousa.com
Waste Pro USA, Inc. Announces the Issuance of Solid Waste Disposal Revenue Bonds in the aggregate principal amount of $200.0 million
LONGWOOD, FL – November 13, 2025 – 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 and issuance of $200,000,000 in aggregate principal amount of solid waste disposal revenue bonds in a three-state offering. The bond issuance consisted of the (i) $75,000,000 Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds (Waste Pro USA, Inc. Project), Series 2025 (the “Florida Bonds”), (ii) $75,000,000 Louisiana Public Facilities Authority Solid Waste Disposal Revenue Bonds (Waste Pro USA, Inc. Project), Series 2025 (the “Louisiana Bonds”), and (iii) $50,000,000 Mississippi Business Finance Corporation Solid Waste Disposal Revenue Bonds (Waste Pro USA, Inc. Project), Series 2025A (the “Mississippi Bonds” and, together with the Florida Bonds and the Louisiana Bonds, the “Series 2025 Bonds”).
The Series 2025 Bonds are guaranteed by certain subsidiaries of Waste Pro pursuant to guaranty agreements and as described in the indentures and loan agreements relating to each of the Series 2025 Bonds. The Florida Bonds were issued with an approximately five-year interest rate period ending July 1, 2030 at an interest rate of 4.450% and mature July 1, 2037. The Louisiana Bonds were issued with an approximately three-year interest rate period ending October 2, 2028 at an interest rate of 4.375% and mature May 1, 2053. The Mississippi Bonds were issued with an approximately two-year interest rate period ending August 2, 2027 at an interest rate of 4.375% and mature February 1, 2048.
“The financial stewardship of our privately-owned, family-run company provides a stable foundation for sustained, long-term growth. Over the last quarter century, our company has grown from a single truck in 2001 to a fleet of over 4,300 collection vehicles, 5,400 employees, and annual revenues exceeding $1.2 billion today,” said Sean Jennings, Chief Executive Officer of Waste Pro. “Our growth is fueled by nearly 300 exclusive municipal contracts and franchises, alongside more than three dozen strategic tuck-in acquisitions completed over the last two years. We continue to maintain a strong pipeline of opportunities that will further strengthen our market position and enhance operational performance throughout our southeastern footprint.”
“We are honored by the investment community’s continued confidence in Waste Pro’s financial strength and future growth strategy. Their trust reinforces our commitment to delivering sustainable value and disciplined growth,” added Cort Sabina, Chief Financial Officer of Waste Pro. “This transaction, which was significantly oversold, was broadly supported by over twenty new and existing institutional investors. Tax-exempt financings, such as the Series 2025 Bonds, serve as a cornerstone of Waste Pro’s capital structure with approximately $586.7 million in fixed-rate, tax-exempt bonds outstanding today.”
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 Series 2025 Bonds. CTBH Partners LLC served as financial advisor to Waste Pro. Greenberg Traurig served as counsel to Waste Pro.
The Series 2025 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 Series 2025 Bonds have not been and will not 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 Series 2025 Bonds, nor shall there be any sale of the Series 2025 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 119 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 Series 2025 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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