Republic Services to repay revolver borrowings with new note proceeds

By Tali Rackner

Norfolk, Va., March 4 – Republic Services, Inc. plans to use the proceeds from a new note offering to refinance roughly $215 million of borrowings under its revolving credit agreement maturing in 2017 and about $275 million under its revolving credit agreement maturing in 2019, according to a 424B5 filing with the Securities and Exchange Commission.

The debt was incurred in connection with the company’s acquisition of all of the outstanding equity interests of Tervita, LLC, an environmental waste solutions subsidiary of Tervita Corp., for about $485 million.

Republic Services is a waste collection company based in Phoenix.

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