Republic Services to repay unsecured credit facilities via new notes

By Sarah Lizee

Olympia, Wash., Nov. 13 – Republic Services, Inc. plans to repay borrowings under its unsecured credit facilities using proceeds from a new note offering, according to a 424B5 filed with the Securities and Exchange Commission.

As of Nov. 10, there was $500 million outstanding under the credit agreement dated June 30, 2014, with a weighted average interest rate of 2.26% and $120.4 million outstanding under the uncommitted credit agreement dated March 5, 2012, with a weighted average interest rate of 2.1%. There were no borrowings outstanding under the second amended and restated credit agreement dated May 2, 2016.

The second amended and restated credit agreement expires on May 2, 2021, the credit agreement expires on June 28, 2019 and the uncommitted credit agreement may be terminated by either party upon three business days’ prior written notice.

Any remaining proceeds from the new notes will be used for general corporate purposes.

Republic Services is a waste collection company based in Phoenix.

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