Allied Waste $250 million 10-year notes talked at 9%-9¼%, pricing Friday

By Paul A. Harris

St. Louis, Mo., Sept. 19 - Official price talk is 9%-9¼% on Allied Waste North America Inc.'s upcoming sale of $250 million 10-year senior notes (Ba3/BB-/BB-), syndicate sources told Prospect News shortly after the close of Thursday's session. The deal is expected to price on Friday.

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 solid waste services company Allied Waste Inc.

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