PHOENIX, Nov. 24, 2020 /PRNewswire/ -- Republic Services, Inc. ("Republic") (NYSE: RSG) today announced that it closed an offering of $350 million 0.875% senior notes due November 2025 and $750 million 1.750% senior notes due February 2032. The net proceeds of the offering will be used to finance the redemption in full of its 3.550% senior notes due June 2022 and partial redemption of its 4.750% senior notes due May 2023. The redemptions are expected to occur on December 9, 2020.
"We further capitalized on market conditions to reduce interest costs and extend maturities," said Brian DelGhiaccio, executive vice president and chief financial officer. "These transactions will reduce cash interest by approximately $26 million per year."
The notes are unsecured and unsubordinated obligations with interest payable for the 2025 notes due semi-annually on May 15 and November 15 beginning May 15, 2021, and interest payable for the 2032 notes due semi-annually on February 15 and August 15 beginning February 15, 2021.
About Republic Services
Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste disposal. Through its subsidiaries, Republic's collection companies, transfer stations, recycling centers, landfills and environmental services provide effective solutions to make responsible recycling and waste disposal effortless for its customers across the country. Its 36,000 employees are committed to providing a superior experience while fostering a sustainable Blue Planet® for future generations to enjoy a cleaner, safer and healthier world. For more information, visit RepublicServices.com, or follow us at Facebook.com/RepublicServices, @RepublicService on Twitter and @republic_services on Instagram.
SOURCE Republic Services, Inc.