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Allied Waste solicits consents to amend reporting requirements
New York, Nov. 26 - Allied Waste Industries, Inc. said it has begun soliciting consents to amend the indenture for nine series of outstanding notes issued by its subsidiary Allied Waste North America, Inc.
Covered by the solicitation are Allied Waste North America's $350 million 6½% senior notes due 2010, $400 million 5¾% senior notes due 2011, $275 million 6 3/8% senior notes due 2011, $450 million 7 7/8% senior notes due 2013, $425 million 6 1/8% senior notes due 2014, $400 million 7 3/8% senior unsecured notes due 2014, $600 million 7¼% senior notes due 2015, $600 million 7 1/8% senior notes due 2016 and $750 million 6 7/8% senior notes due 2017.
The proposed amendments will change the reporting obligations in connection with the pending merger between Allied and Republic Services, Inc. If adopted, the amendments will allow Republic rather than Allied to make required filings with the Securities and Exchange Commission following completion of the merger.
The change is designed to minimize future reporting obligations following the closing, the company said.
Allied and Allied Waste North America, which are conducting the solicitation jointly, are offering to pay a consent fee of $1.25 per $1,000 principal amount of notes.
The solicitation expires at 5 p.m. ET on Dec. 10.
UBS Investment Bank is lead solicitation agent (call collect 203 719-4210 or 888 722-9555 ext. 4210) with BNP Paribas as co-solicitation agent. D.F. King & Co., Inc. is information agent (call collect 212 269-5550 or 888 869-7406) and U.S. Bank NA is tabulation agent.
Allied Waste is a Phoenix, Ariz., solid waste services company.
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