Date: February 26, 2007
Source: Allied Waste Industries, Inc.
Allied Waste Industries, Inc. (NYSE: AW) announced that its wholly-owned subsidiary, Allied Waste North America, Inc. ("AWNA"), has priced its offering of $750 million in aggregate principal amount of senior notes due 2017 at an interest rate of 6 7/8%. These notes will be issued under Allied's existing shelf registration statement. AWNA intends to use the proceeds from the sale of these senior notes, along with other available funds, to purchase its 8.5% Senior Notes due 2008 (the "2008 Notes") pursuant to its concurrent tender offer for any and all of its outstanding 2008 Notes announced on February 26, 2007.
These new notes have been rated BB-, B1 and B+ by Standard & Poor's, Moody's and Fitch, respectively.
UBS Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. are acting as the joint book-running managers for the offering of the notes.
Copies of the final prospectus supplement relating to the offering may be obtained from UBS Securities LLC, 677 Washington Blvd., Stamford, CT 06901, or by phone at 203-719-1556.
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