Republic Services plans to redeem $600 million 7.125% notes due 2016

By Melissa Kory

Cleveland, May 2 - Republic Services, Inc. intends to redeem its $600 million of 7.125% senior notes due 2016, according to a 424B2 filing with the Securities and Exchange Commission.

The company expects to use $621.4 million of the proceeds from a proposed offering of notes due 2018, 2023 and 2041 to fund the redemption.

Proceeds will also be used to purchase $59.1 million of subsidiary Browning-Ferris Industries, LLC's 9.25% debentures due 2021 and $180.7 million of Browning-Ferris' 7.4% debentures.

Browning-Ferris launched a tender offer for the 9.25% debentures and 7.4% debentures on April 22. The tender offer will expire at midnight ET on May 6.

Republic Services is a waste collection company based in Phoenix.

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