Republic Services, Inc. Announces Early Results for Tender Offers by Browning-Ferris Industries, LLC
Apr 29, 2011, 07:51 ET
PHOENIX, April 29, 2011 /PRNewswire/ -- Browning-Ferris Industries, LLC (the "Company"), a wholly-owned indirect subsidiary of Republic Services, Inc. (NYSE: RSG) announced today the early results of its previously announced cash tender offers (the "Offers").
(Logo: http://photos.prnewswire.com/prnh/20100304/RSLOGO)
On April 22, 2011, the Company commenced cash tender offers for the securities listed in the table below in accordance with the terms and conditions set forth in the Offer to Purchase and related Letter of Transmittal (collectively, the "Offer Documents").
According to Global Bondholder Services Corporation, the depositary for the Offers, as of 5:00 p.m., New York City time, on April 29, 2011 (the "Early Tender Date"), the Company had received valid tenders from holders of securities as outlined in the table below.
Title of Security |
CUSIP No. |
Outstanding |
Principal Amount |
Percent of |
|
9.250% Debentures due 2021 |
115885AE5 |
$94,500,000 |
$59,095,000 |
62.53% |
|
7.400% Debentures due 2035 |
115885AK1 |
$360,000,000 |
$180,688,000 |
50.19% |
|
Tendered securities cannot be withdrawn after the Withdrawal Date, which was 5:00 p.m., New York City time, on April 29, 2011. The Offers will expire at 12:00 a.m., New York City time, on May 6, 2011, unless extended.
This announcement is for informational purposes only and is not an offer to purchase or a solicitation of an offer to purchase any securities. The Offers are being made solely pursuant to the Offer Documents, as amended by this press release.
Closing of the offers are subject to the conditions described in the Offer Documents, including market and other factors.
Additional Information
The Company has retained BofA Merrill Lynch, Barclays Capital and JPMorgan to act as dealer managers for the Offers. Global Bondholder Services Corporation is the Information Agent and Depositary for the Offers.
Questions regarding the Offers: |
Requests for |
|||
BofA Merrill Lynch Debt Advisory Services |
Barclays Capital Liability Management Group |
J.P. Morgan Liability Management Group |
Global Bondholder |
|
(888) 292-0070 (toll-free) |
(800) 438-3242 (toll-free) |
(866) 834-4666 (toll-free) |
(866) 795-2200 (toll-free) |
|
(980) 387-3907 (collect) |
(212) 528-7581 (collect) |
(212) 834-3424 (collect) |
(212) 430-3774 (collect) |
|
The Offers are not being made to holders of securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to be made on behalf of the Company by the dealer managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About Republic Services, Inc.
Republic Services, Inc. provides recycling and solid waste collection, transfer and disposal services in the United States and Puerto Rico. The Company's various operating units, including collection companies, transfer stations, recycling centers and landfills, are focused on providing reliable environmental services and solutions for commercial, industrial, municipal and residential customers. For more information, visit the Republic Services website at www.republicservices.com.
INFORMATION REGARDING FORWARD LOOKING STATEMENTS
The disclosures herein include statements that are "forward looking" within the meaning of federal securities law concerning Republic's proposed offering. The terms of, and Republic's ability to complete, such transaction will depend upon prevailing market conditions and other factors. The forward-looking statements are subject to these and other risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.
SOURCE Republic Services, Inc.