Allied Waste drive-by $250 million 10-year notes pricing late Thursday

By Paul A. Harris

St. Louis, Mo., Sept. 18 - Allied Waste North America Inc. will price its drive-by offering of $250 million senior notes due 2012 (Ba3/BB-/BB-) late Thursday, according to a syndicate source.

Deutsche Bank Securities Inc. and Credit Suisse First Boston are joint bookrunners. JP Morgan and Salomon Smith Barney are joint leads. ABN Amro, Credit Lyonnais, Fleet Securities, Scotia Capital, Banc One Capital Markets, BNP Paribas and Wachovia Securities, Inc. are co-managers.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to repay bank debt.

The issuer is a wholly-owned subsidiary of Scottsdale, Ariz.-based waste services company Allied Waste Inc.

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