Republic Services intends to price dollar-denominated notes

By Rebecca Melvin

New York, Feb. 18 – Republic Services, Inc. is offering dollar-denominated notes, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are redeemable at the issuer’s option with a make-whole payment and have a change-of-control triggered call at a price equal to 101% of the principal amount of notes plus accrued and unpaid interest.

BofA Securities, Inc., J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Mizuho Securities USA Inc., SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC are the joint bookrunning managers of the deal.

Proceeds will be used to repay the $850 million principal amount outstanding of the company’s 2020 notes at maturity and for general corporate purposes, including repayment of amounts outstanding under its unsecured credit facilities. Prior to such uses, Republic may temporarily invest the proceeds in marketable securities and short-term investments, repay debt under the company’s unsecured credit facilities, repay at maturity its 5.5% notes due Sept. 15, 2019 and fund general corporate purposes.

Republic Services is a waste collection company based in Phoenix.

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