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8-K - FORM 8-K - REPUBLIC SERVICES, INC. | p17036e8vk.htm |
Exhibit 99.1
NEWS
Republic Contacts:
Media Inquiries: Will Flower (480) 718-6565
Investor Inquiries: Ed Lang (480) 627-7128
REPUBLIC SERVICES, INC. ANNOUNCES REDEMPTION OF
7.25% SENIOR NOTES DUE 2015
7.25% SENIOR NOTES DUE 2015
PHOENIXMarch 1, 2010 Republic Services, Inc. (NYSE: RSG) announced today that it has
notified the registered holders of its 7.25% Senior Notes due 2015 (the Notes) that it will
redeem all of the Notes outstanding on March 31, 2010 (the Redemption Date). The Notes will be
redeemed at a price equal to 103.625% 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 incremental borrowings under its revolving credit facility and cash on
hand to fund the redemption. The company expects to incur a charge upon extinguishment of the Notes
of approximately $82 million, of which $22 million is the cash premium. This charge will be
reflected in its first quarter 2010 financial results.
Republic Services, Inc. provides recycling and solid waste collection, transfer and disposal
services in the United States and Puerto Rico. The Companys various operating units, including
collection companies, transfer stations recycling centers and landfills, are focused on providing
reliable environmental services and solutions for commercial, industrial, municipal and residential
customers. For more information, visit the Republic Services web site at www.republicservices.com.
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