Waste Pro USA, Inc., a regional privately-held provider of non-hazardous waste collection, transfer, recycling and disposal services, has completed the sale of $150,000,000 Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds (Waste Pro USA, Inc. Project), Series 2026.
During the initial five year term interest rate period, the interest rate on the Bonds will be 4.35 percent 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 10 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.”
The Bonds were offered only to qualified institutional buyers as defined in Rule 144A under the Securities Act of 1933, as amended. 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.
Published August 2026