Date: March 29, 2011
Source: IESI-BFC Ltd.
IESI-BFC Ltd. (Toronto, ON) completed an offering of 10.9 million shares of stock owned by TC Carting III, LLC, an affiliate of Thayer I Hidden Creek Partners, L.L.C at a price of C$23.50 per share, making the deal worth C$256 million (US$245 million). The Company did not receive any proceeds from the sale as all of the shares were sold by TC Carting which previously owned preferred stock but converted it into common shares on December 31. A million of the shares offered were purchased by IESI-BFC and then cancelled as a means to return cash to shareholders without committing to a higher dividend. BofA Merrill Lynch, J.P. Morgan, and Raymond James acted as joint book-running managers for the offering.
PRESS RELEASE
Mar 29, 2011
IESI-BFC Ltd. Announces Completion of Public Secondary Offering Of Common Shares by Thayer I Hidden Creek Partners, L.L.C.
IESI-BFC Ltd. (the "Company") (TSX: BIN) (NYSE: BIN) today announced the closing of the previously announced public secondary offering of 10,906,195 common shares by TC Carting III, L.L.C. (the "selling securityholder"), an affiliate of Thayer I Hidden Creek Partners, L.L.C ., at a price of $23.50 per share. BofA Merrill Lynch, J.P. Morgan, and Raymond James acted as joint book-running managers for the offering.
All of the common shares in the offering were sold by TC Carting III, L.L.C. The Company did not receive any proceeds from the sale of common shares offered by the selling securityholder.
The common shares were offered under the Company's existing base shelf prospectus filed in Canada and the United States.
A copy of the prospectus supplement and related base shelf prospectus is available on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Alternatively, copies of the prospectus supplement and the related base shelf prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or email dg.prospectus_requests@baml.com or J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Tel: 866-803-9204).
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
For more information, please contact:
IESI-BFC Ltd.
Chaya Cooperberg
Vice President, Investor Relations and
Corporate Communications
(905) 532-7517
chaya.cooperberg@bficanada.com.
PRESS RELEASE
Mar 25, 2011
IESI-BFC Ltd. Announces Exercise of Over-Allotment Option
IESI-BFC Ltd. (the "Company") (TSX: BIN) (NYSE: BIN) today announced that the underwriters of its recent public secondary offering have exercised their over-allotment option in full and will purchase an additional 1,422,547 common shares at US$23.50 per share. The option was granted pursuant to the offering by TC Carting III, L.L.C. (the "selling securityholder"), an affiliate of Thayer I Hidden Creek Partners, L.L.C, of 9,483,648 common shares, at an offering price of US$23.50 per share, which is expected to close on March 29, 2011. The net proceeds with the exercise of the option will total US$245,403,020.24. BofA Merrill Lynch, J.P. Morgan, and Raymond James are acting as joint book-running managers for the offering.
All of the common shares in this offering are being sold by TC Carting III, L.L.C. The Company will not receive any proceeds from the sale of common shares offered by the selling securityholder.
The common shares are being offered under the Company's existing base shelf prospectus filed in Canada and the United States.
A copy of the prospectus supplement and related base shelf prospectus is available on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Alternatively, copies of the prospectus supplement and the related base shelf prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or email dg.prospectus_requests@baml.com or J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Tel: 866-803-9204).
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
PRESS RELEASE
Mar 24, 2011
IESI-BFC Ltd. Announces Pricing for the Public Secondary Offering of Common Shares by Thayer I Hidden Creek Partners, L.L.C.
IESI-BFC Ltd. (the "Company") (TSX: BIN) (NYSE: BIN) today announced the pricing for the public secondary offering of 9,483,648 of the Company's common shares currently owned by TC Carting III, L.L.C. (the "selling securityholder"), an affiliate of Thayer I Hidden Creek Partners, L.L.C., at US$23.50 per share. The offering is expected to close on or about March 29, 2011, subject to customary closing conditions. BofA Merrill Lynch, J.P. Morgan, and Raymond James are acting as joint book-running managers for the offering.
All of the common shares in this offering are being sold by TC Carting III, L.L.C. The Company will not receive any proceeds from the sale of common shares to be offered by the selling securityholder.
The Company has agreed to purchase from the underwriters 1,000,000 common shares in the offering, at the same public offering price. Those shares will be cancelled and will no longer remain outstanding after the purchase.
The Company will also purchase 284,781 common shares in this offering at the public offering price, and will contribute those shares to Computershare Trust Company, who will hold them in trust on behalf of participants in the Company's long-term incentive plan and certain of its directors.
The selling securityholder has also granted the underwriters an option, exercisable from time to time, in part or in whole, for a period of 30 days, to purchase up to 1,422,547 additional shares from the selling securityholder, to cover over-allotments, if any.
The common shares are being offered under the Company's existing base shelf prospectus filed in Canada and the United States.
A copy of the prospectus supplement and related base shelf prospectus is available on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Alternatively, copies of the prospectus supplement and the related base shelf prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or email dg.prospectus_requests@baml.com or J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Tel: 866-803-9204).
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
PRESS RELEASE
Mar 22, 2011
IESI-BFC Ltd. Announces Commencement of Public Secondary Offering of Common Shares by TC Carting III, L.L.C.
IESI-BFC Ltd. (the "Company") (TSX: BIN) (NYSE: BIN) today announced that it has filed a preliminary prospectus supplement relating to a public secondary offering of 9,483,648 of the Company's common shares currently owned by TC Carting III, L.L.C. (the "selling securityholder"), an affiliate of Thayer | Hidden Creek. The selling securityholder also plans to grant the underwriters an option, exercisable from time to time, in part or in whole, for a period of 30 days following the date of the final prospectus supplement, to purchase up to 1,422,547 additional shares from the selling securityholder, to cover over-allotments, if any. BofA Merrill Lynch, J.P. Morgan, and Raymond James are acting as joint book-running managers for the offering.
All of the common shares in this offering are being sold by TC Carting III, L.L.C. The Company will not receive any proceeds from the sale of common shares to be offered by the selling securityholder.
The Company has agreed to purchase from the underwriters 1,000,000 common shares in the offering, at the public offering price. Those shares will be cancelled and will no longer remain outstanding after the purchase.
The Company will also purchase that number of common shares in this offering at the public offering price whose value at the time of purchase equals, in the aggregate, approximately US$6.7 million, and will contribute those shares to Computershare Trust Company, who will hold them in trust on behalf of participants in the Company's long-term incentive plan and certain of its directors.
The common shares are being offered under the Company's existing base shelf prospectus filed in Canada and the United States.
A copy of the preliminary prospectus supplement and related base shelf prospectus is available on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Alternatively, copies of the prospectus supplement and the related base shelf prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or email dg.prospectus_requests@baml.com or J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Tel: 866-803-9204).
This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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