Republic Services enters into $1.25 billion revolving credit facility

By Jennifer Chiou

New York, July 2 – Republic Services Inc. entered into on June 30 a $1.25 billion revolving credit facility with Bank of America, NA as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

The revolver replaces the company's $1 billion credit facility maturing in April 2016.

The replacement facility is unsecured and will mature in June 2019, the 8-K said.

There is a $500 million accordion feature.

In addition, the company amended an existing credit facility that matures in May 2017, reducing the size to $1 billion from $1.25 billion.

Bank of America is the administrative agent on the existing loan.

Republic Services is a Phoenix-based provider of non-hazardous solid waste collection, transfer and disposal services.

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