Allied Waste to redeem 7 7/8% notes

New York, Jan, 21 -- Allied Waste Industries, Inc. (Ba3/BB-) said that its wholly owned Allied Waste North America, Inc. subsidiary will redeem $825 million of its outstanding 7 7/8% senior notes due 2009 using proceeds from an offering of $825 million of new seven-year and 10-year senior notes.

Allied Waste, a Scottsdale, Ariz.-based waste-disposal company, gave no timetable for the planned note redemption.

Allied Waste issued $875 million of the 7 7/8% notes in December 1998.

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