Published on 10/26/2012 in the Prospect News Private Placement Daily.
New Issue: Stericycle to issue $250 million seven- and 10-year senior notes
By Lisa Kerner
Charlotte, N.C., Oct. 26 - Stericycle, Inc. agreed on Oct. 22 to sell $125 million of seven-year 2.68% series A unsecured senior notes and $125 million of 10-year 3.26% series B unsecured senior notes.
Closing of the issuance and sale of the notes is expected to occur around Dec. 12.
Interest on the notes is payable in arrears semiannually on June 12 and Dec. 12, beginning on June 12, 2013.
Proceeds will be used to reduce borrowings under Stericycle's revolving credit facility and for general corporate purposes.
Purchasers include the Northwestern Mutual Life Insurance Co., Northwestern Long Term Care Insurance Co., Lincoln National Life Insurance Co., ING USA Annuity and Life Insurance Co., ING Life Insurance and Annuity Co., Reliastar Life Insurance Co., Reliastar Life Insurance Co., of New York, Principal Life Insurance Co., Penn Mutual Life Insurance Co., Symetra Life Insurance Co., Jackson National Life Insurance Co., Reassure America Life Insurance Co., Aviva Life and Annuity Co., Royal Neighbors of America, Thrivent Financial for Lutherans, AXA Equitable Life Insurance Co. and MONY Life Insurance Co.
Other purchasers include RiverSource Life Insurance Co. (944), RiverSource Life Insurance Co. of New York (904), Western-Southern Life Assurance Co., Columbus Life Insurance Co., Integrity Life Insurance Co., Integrity Life Insurance Co., Separate Account GPO, National Integrity Life Insurance Co., Separate Account GPO, Great-West Life & Annuity Insurance Co., Great-West Life & Annuity Insurance Co., of South Carolina, Hartford Life Insurance Co., the Guardian Life Insurance Co., of America, Modern Woodmen of America, National Life Insurance Co., Trinity Universal Insurance Co., Catholic United Financial, Occidental Life Insurance Co., of North Carolina, Western Fraternal Life Association, Southern Farm Bureau Life Insurance Co., Woodmen of the World Life Insurance Society, Americo Financial Life & Annuity Insurance Co., American United Life Insurance Co., Ameritas Life Insurance Corp. of New York, Acacia Life Insurance Co., the Union Central Life Insurance Co., USAA Life Insurance Co., Country Life Insurance Co., ProAssurance Indemnity Co., Inc, ProAssurance Casualty Co. and State of Wisconsin Investment Board.
Stericycle is a Lake Forest, Ill.-based provider of medical waste collection, transportation, treatment and disposal services and safety and compliance programs.
| Issuer: | Stericycle, Inc.
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| Issue: | Unsecured senior notes
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| Total amount: | $400 million
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| Pricing date: | Oct. 22
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| Distribution: | Private placement
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| Settlement date: | Dec. 12
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| Purchasers: | The Northwestern Mutual Life Insurance Co., Northwestern Long Term Care Insurance Co., the Lincoln National Life Insurance Co., ING USA Annuity and Life Insurance Co., ING Life Insurance and Annuity Co., Reliastar Life Insurance Co., Reliastar Life Insurance Co., of New York, Principal Life Insurance Co., Penn Mutual Life Insurance Co., Symetra Life Insurance Co., Jackson National Life Insurance Co., Reassure America Life Insurance Co., Aviva Life and Annuity Co., Royal Neighbors of America, Thrivent Financial for Lutherans, AXA Equitable Life Insurance Co., MONY Life Insurance Co., RiverSource Life Insurance Co. (944), RiverSource Life Insurance Co. of New York (904), Western-Southern Life Assurance Co., Columbus Life Insurance Co., Integrity Life Insurance Co., Integrity Life Insurance Co., Separate Account GPO, National Integrity Life Insurance Co., Separate Account GPO, Great-West Life & Annuity Insurance Co., Great-West Life & Annuity Insurance Co., of South Carolina, Hartford Life Insurance Co., the Guardian Life Insurance Co., of America, Modern Woodmen of America, National Life Insurance Co., Trinity Universal Insurance Co., Catholic United Financial, Occidental Life Insurance Co., of North Carolina, Western Fraternal Life Association, Southern Farm Bureau Life Insurance Co., Woodmen of the World Life Insurance Society, Americo Financial Life & Annuity Insurance Co., American United Life Insurance Co., Ameritas Life Insurance Corp. of New York, Acacia Life Insurance Co., the Union Central Life Insurance Co., USAA Life Insurance Co., Country Life Insurance Co., ProAssurance Indemnity Co., Inc, ProAssurance Casualty Co., and State of Wisconsin Investment Board.
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| Series A notes
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| Amount: | $125 million
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| Maturity: | Seven years
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| Coupon: | 2.68%
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| Series B notes
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| Amount: | $125 million
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| Maturity: | 10 years
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| Coupon: | 3.26%
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