Allied Waste buys back 10% notes with proceeds from $250 million term loan

New York, Oct. 28 - Allied Waste Industries, Inc. said it bought back some of its 10% senior subordinated notes with proceeds from a new $250 million term loan C.

The Scottsdale, Ariz. waste services company made the repurchases in the open market during September and October.

Allied Waste closed on the new term loan in late August. Interest is at Libor plus 300 basis points.

Following the buybacks, Allied Waste had $1.812 billion of the 10% notes outstanding compared to $2.005 billion as of June 30.

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