Allied Waste to offer new debt, redeem 10% notes

New York, Nov. 4 - Allied Waste Industries, Inc. (B2/B) said that its wholly-owned Allied Waste North America, Inc. subsidiary will offer $250 million of new seven-year notes in a Rule 144A transaction, and will use the proceeds from the proposed note sale to retire a portion of Allied Waste North America's 10% senior subordinated notes due 2009.

Allied Waste, a Scottsdale, Ariz.-based waste-disposal company, gave no timetable for the planned note retirements, and said they would be accomplished through open market repurchases or otherwise. It did not say how many of the existing notes it planned to buy back.

Allied Waste issued $2 billion of the bonds in July 1999

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