Allied Waste gets needed consents to amend reporting requirements for several notes series

By Jennifer Chiou

New York, Dec. 11 - Republic Services, Inc. announced that its wholly owned subsidiary, Allied Waste Industries, Inc., wrapped a successful consent solicitation for nine series of outstanding notes issued by Allied Waste North America, Inc.

Covered by the solicitation were Allied Waste North America's $350 million 6.5% senior notes due 2010, $400 million 5.75% senior notes due 2011, $275 million 6.375% senior notes due 2011, $450 million 7.875% senior notes due 2013, $425 million 6.125% senior notes due 2014, $400 million 7.375% senior unsecured notes due 2014, $600 million 7.25% senior notes due 2015, $600 million 7.125% senior notes due 2016 and $750 million 6.875% senior notes due 2017.

The company said it has entered into supplemental indentures.

The proposed amendments change the reporting obligations in connection with the Dec. 5 merger between Allied and Republic Services, Inc. The amendments allow Republic rather than Allied to make required filings with the Securities and Exchange Commission following completion of the merger.

The change was designed to minimize future reporting obligations following the closing, the company said.

Allied and Allied Waste North America, which were conducting the solicitation jointly, paid a consent fee of $1.25 per $1,000 principal amount of notes.

The solicitation expired at 5 p.m. ET on Dec. 10.

The combined company, named Republic Services, is based in Phoenix and trades on the New York Stock Exchange under the ticker symbol "RSG."

Under the companies' merger agreement, Allied Waste shareholders received 0.45 of a share of Republic Services common stock for each share of Allied Waste common stock.

UBS Investment Bank was lead solicitation agent (call collect 203 719-4210 or 888 722-9555 ext. 4210) with BNP Paribas as co-solicitation agent. D.F. King & Co., Inc. was information agent (call collect 212 269-5550 or 888 869-7406), and U.S. Bank NA was tabulation agent.

Republic Services provides solid waste collection, transfer and disposal services.

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