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Republic Secures $1.75 Billion From Lenders for Allied Merger

Article-Republic Secures $1.75 Billion From Lenders for Allied Merger

Republic Services, Fort Lauderdale Fla., has secured commitments from a syndicate of lenders, arranged by Bank of America Securities and J.P. Morgan Securities, to cover its new $1.75 billion senior unsecured revolving credit facility. The new facility, which will be coupled with the existing Republic $1 billion facility, is needed to consummate the firm’s merger with Phoenix-based Allied Waste.

According to Republic, the company expects to enter into the new facility and enter conforming ammedments of its existing facility in September. Republic still expects the Allied merger to close in fourth-quarter 2008.

TAGS: Financials