Allied Waste to price $600 million 10-year notes on Thursday

By Paul A. Harris

St. Louis, May 3 - Allied Waste North America plans to price a $600 million offering of 10-year senior secured notes on Thursday, according to informed sources.

Citigroup, JP Morgan and UBS Investment Bank are joint bookrunners for the notes, which will be priced via Rule 144A with registration rights and via Regulation S. Wachovia Securities, Banc of America Securities LLC, Credit Suisse and Deutsche Bank Securities are joint lead managers.

The notes will come with five years of call protection.

Proceeds will be used to fund the tender for the company's $600 million of outstanding 8 7/8% senior secured notes due 2008.

The prospective issuer is a wholly owned subsidiary of Scottsdale, Ariz.-based Allied Waste Industries, Inc., a waste services company that provides collection, recycling and disposal services to residential, commercial and industrial customers in the United States and Puerto Rico.

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