Wastequip’s revolving lenders extend commitments totaling $45 million
CHARLOTTE, N.C., Dec. 16, 2022 /PRNewswire/ — Wastequip, the leading North American manufacturer of waste handling equipment, today announced it has successfully completed an amendment and extension of its senior secured revolving credit facility. As a result of the transaction, Wastequip’s revolving lenders have agreed to extend the maturity of commitments totaling $45 million by 18 months to September 20, 2024. Wastequip also entered into amendments concerning its first lien and second lien senior secured credit facilities to change the interest rate calculation to be based on SOFR plus an index adjustment of 0.10% in place of LIBOR. Still, the margins added to the benchmark rate are unchanged. Extending Wastequip’s revolving credit facility further enhances the company’s liquidity and financial flexibility.
“The success of this revolving credit facility is a continued endorsement and reaffirmation of the strength of our company. We thank our lending partners for their confidence in Wastequip and our business objectives by committing to this extended facility in a turbulent market,” said Steve Klueg, Chief Financial Officer of Wastequip.
ABOUT WASTEQUIP
Wastequip is the leading North American manufacturer of waste handling equipment, with an international network of manufacturing facilities and the most extensive dealer network in the industry. Wastequip offers the broadest range of waste equipment, which includes carts, containers, trucks, parts, service and technology, for the collection, transport and disposal of waste and recyclables. The company’s brands include Wastequip®, Toter®, ConFab®, Amrep®, Galbreath®, Pioneer™, Mountain Tarp®, Wastequip WRX™, Wastebuilt®, ContainerPros®, wasteware™, and Accurate™. For more information, visit www.wastequip.com.
SOURCE Wastequip
