Republic Services, Inc. Announces Redemption of 7.875% Senior Notes Due 2013

Thu. October 29, 2009; Posted: 06:00 AM

Look up the PowerRating of RSG and see how it has performed over the past week as well as the current proprietary PowerRating.

PHOENIX, Oct 29, 2009 /PRNewswire-FirstCall via COMTEX/ -- RSG | Quote | Chart | News | PowerRating -- Republic Services, Inc. (NYSE: RSG | Quote | Chart | News | PowerRating) announced today that it has notified the registered holders of its 7.875% Senior Notes due 2013 (the "Notes") that it will redeem all of the Notes outstanding on November 30, 2009 (the "Redemption Date"). The Notes will be redeemed at a price equal to 102.625% of the principal amount of the Notes, plus accrued and unpaid interest up to, but not including, the Redemption Date. Payment of the redemption price will be made by U.S. Bank National Association, the trustee under the indenture governing the Notes, on the Redemption Date upon presentation and surrender of the Notes as set forth in the redemption notice. The company intends to use cash on hand and, if necessary, incremental borrowings under its revolving credit facility to fund the redemption. The company may also explore capital markets opportunities to fund the redemption if market conditions are favorable. The company expects to incur a charge upon extinguishment of the Notes of approximately $35 million. This charge will be reflected in its fourth quarter 2009 financial results.

ABOUT REPUBLIC SERVICES

Republic Services, Inc. is a leading provider of services in the domestic, non-hazardous solid waste industry. The Company provides non-hazardous solid waste collection services for commercial, industrial, municipal, and residential customers through 380 collection companies in 40 states. It also owns or operates 239 transfer stations, 199 solid waste landfills and 79 recycling facilities. Republic serves millions of residential customers under contracts with more than 3,000 municipalities for waste collection and residential services. It also serves commercial customers throughout its expansive service area. For more information, visit the Republic Services web site at www.republicservices.com

SOURCE Republic Services, Inc.

http://www.republicservices.com

For full details on Republic Services Inc (RSG) click here. Republic Services Inc (RSG) has Short Term PowerRatings of 5. Details on Republic Services Inc (RSG) Short Term PowerRatings is available at This Link.

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