Republic To Sell $650 Million in Bonds

Phoenix-based Republic Services has announced a private offering of $650 million in bonds that is expected to close on Sept. 8. The bonds are due in 2019.

The net proceeds of the offering, which Republic estimates will be $639 million, will be used to pay off notes maturing in 2010 and 2011, reduce the amount outstanding under the firm’s revolving credit facility, and make tax payments related to the divestiture of assets mandated by the firm’s 2008 merger with Allied Waste.

TAGS: Financials