Advanced Disposal Services guiding $425 million eight-year notes at low 6% area; pricing Thursday

By Paul A. Harris

Portland, Ore., Oct. 27 – Advanced Disposal Services Inc. is expected to price $425 million of eight-year senior notes (Caa1/B-) on Thursday following a conference call with investors, according to a buyside source, who added that the deal is well oversubscribed.

Early guidance has the deal coming in the low 6% area.

Deutsche Bank Securities Inc. is the left bookrunner for the Rule 144A and Regulation S offering. Barclays, Credit Suisse Securities (USA) LLC, Macquarie Capital and UBS Investment Bank are the joint bookrunners.

The Ponte Vedra, Fla.-based provider of non-hazardous solid waste services plans to use the proceeds, together with borrowings under its new credit facilities, to pay off its existing credit agreement, to finance a tender offer for its senior notes due 2020 and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.