Republic Services, Inc. Announces Bond Offering
Republic Services, Inc. announced today that it has commenced a private offering of senior notes due 2021, the net proceeds of which Republic plans to use to finance the call of its 7.875% Senior Notes due 2013 (of which $450 million is outstanding) and to finance a portion of the call of its 4.250% Senior Subordinated Convertible Debentures due 2034 (of which $230 million is outstanding). The offering is subject to market and other conditions.
The notes will be our general senior unsecured obligations and will be guaranteed by each of our subsidiaries that also guarantee our revolving credit facilities. These guarantees will be general senior unsecured obligations of the subsidiary guarantors.
We are offering the notes in reliance upon an exemption from registration under the Securities Act of 1933 for an offer and sale of securities that does not involve a public offering. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This communication does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which it would be unlawful.
INFORMATION REGARDING FORWARD LOOKING STATEMENTS
The disclosures herein include "forward looking statements" within the meaning of the federal securities law concerning Republic's proposed offering. The terms of, and Republic's ability to complete, such transaction will depend upon prevailing market conditions and other factors. The forward-looking statements are subject to these and other risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.
First Call Analyst: Flower, Will
SOURCE: Republic Services, Inc.