Allied Waste to price $600 million 10-year notes Thursday following investor conference call

By Paul A. Harris

St. Louis, March 2 - Allied Waste Industries Inc. plans to price $600 million of 10-year senior notes (B2/BB-/B+) in a quick-to-market transaction on Thursday afternoon, according to a syndicate source.

An investor conference call is scheduled for 11 a.m. ET Thursday.

JP Morgan, UBS Investment Bank, Credit Suisse First Boston and Wachovia Securities are joint bookrunners for the Rule 144A/Regulation S offering. Banc of America Securities LLC will be a co-manager, with other co-managers expected to emerge.

The notes will be non-callable for five years.

Proceeds will be used to redeem $600 million of the company's 7 5/8% senior notes due January 2006.

Allied Waste is concurrently in the market with $500 million of three-year mandatory convertible preferred stock, a $3.45 billion credit facility and an offering of common shares.

The prospective issuer is a Scottsdale, Ariz., waste disposal company.

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