Allied Waste Industries Receives Requisite Consents for Previously Announced Consent Solicitation
PHOENIX--(BUSINESS WIRE)--Republic Services, Inc. [NYSE: RSG] today announced that its wholly owned subsidiaries, Allied Waste Industries, Inc., and Allied Waste North America, Inc. (“AWNA”), have received, as of 5:00 p.m. New York City time on December 10, 2008, the requisite consents for their previously announced consent solicitation to amend the supplemental indentures governing the following outstanding debt securities of AWNA. The securities include:
| $350,000,000 6 ½% Senior Notes due 2010 (CUSIP No. 01958XBA4) |
| $400,000,000 5 ¾% Senior Notes due 2011 (CUSIP No. 01958XBD8) |
| $275,000,000 6 ⅜% Senior Notes due 2011 (CUSIP No. 01958XBK2) |
| $450,000,000 7 ⅞% Senior Notes due 2013 (CUSIP No. 01958XAZ0) |
| $425,000,000 6 ⅛% Senior Notes due 2014 (CUSIP No. 01958XBF3) |
| $400,000,000 7 ⅜% Senior Unsecured Notes due 2014 (CUSIP No. 01958XBH9) |
| $600,000,000 7 ¼% Senior Notes due 2015 (CUSIP No. 01958XBN6) |
| $600,000,000 7 ⅛% Senior Notes due 2016 (CUSIP No. 01958XBR7) |
| $750,000,000 6 ⅞% Senior Notes due 2017 (CUSIP No. 01958XBS5) |
The amendment to each supplemental indenture which will modify the reporting obligations of Allied under the Supplemental Indentures will become effective following the execution of a supplemental indenture by and among Allied, AWNA, the Guarantors named therein and the trustee.
The consent fee will be paid promptly to each holder who has delivered (and has not revoked) a valid consent in respect of such securities prior to 5:00 PM New York Time on December 10, 2008. Payment for consents will be made by deposit of funds with the tabulation agent, which will act as agent for the holders for the purpose of receiving payments and transmitting such payments to the holders. Please refer to the consent solicitation statement dated November 26, 2008 and the related letter of consent for the terms and conditions regarding the acceptance of and payment for consents.
UBS Investment Bank acted as the Lead Solicitation Agent and BNP PARIBAS acted as the Co-Solicitation Agent for the consent solicitation. D.F. King & Co., Inc. is the Information Agent and U.S. Bank National Association is the Tabulation Agent.
About Republic Services, Inc.
Republic Services, Inc. is a leading provider of solid waste collection, transfer and disposal services in the United States. The Company's operating units are focused on providing solid waste services for commercial, industrial, municipal and residential customers. Allied Waste Industries is a wholly owned subsidiary of Republic Services.
Information Regarding Forward-Looking Statements
Certain statements and information included herein constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Any such forward-looking statements contained herein are based on current expectations, but are subject to a number of risks, uncertainties, and other factors that may cause actual results to differ materially from expectations expressed in such forward-looking statements, many of which are beyond the control of Republic. Such risks, uncertainties and other factors include: regulatory and litigation matters and risks, legislative developments, changes in tax and other laws, the effect of changes in general economic conditions, risks that the combined company may not achieve anticipated synergies or that the acquisition may not be accretive to earnings in the anticipated time frame, or at all, risks that the combined company may not generate expected cash flows, as well as risks relating to the business and operations of Republic included in its filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating our forward-looking statements and are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the parties hereto undertake no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
