Allied Waste completes notes offering |
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Mon, 12 Mar 2007 22:08
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PHOENIX (AP) - Allied Waste Industries Inc., a nonhazardous solid waste management company, said Monday that its subsidiary, Allied Waste North America Inc., has successfully completed its offering of $750 million in 6 7/8 percent senior notes due 2017.Allied Waste will use the proceeds from the sale to buy up to $750 million of the subsidiary's 8.5 percent senior notes due 2008 under a previously announced tender offer.The company also said that it has received valid tenders and a sufficient number of consents to adopt proposed amendments to the indenture governing the 8.5 percent notes.About $727 million, or 97 percent, of the aggregate principal amount of the 8.5 percent notes were validly tendered by Friday.The tender offer and consent solicitation are scheduled to expire on March 23, unless extended, Allied Waste said.Shares of Allied Waste rose 6 cents to close at $12.36 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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