PHOENIX, Nov. 26 AZ-Allied-Waste-Indus
PHOENIX, Nov. 26 /PRNewswire-FirstCall/ -- Allied Waste Industries, Inc.
(NYSE: AW) announced that it and its subsidiary, Allied Waste North America,
Inc. ("AWNA") today commenced a consent solicitation to amend the supplemental
indentures (collectively referred to as the "Supplemental Indentures")
governing the following outstanding debt securities of AWNA (the
"Securities"):
$350,000,000 6 1/2% Senior Notes due 2010 (CUSIP No. 01958XBA4)
$400,000,000 5 3/4% Senior Notes due 2011 (CUSIP No. 01958XBD8)
$275,000,000 6 3/8% Senior Notes due 2011 (CUSIP No. 01958XBK2)
$450,000,000 7 7/8% Senior Notes due 2013 (CUSIP No. 01958XAZ0)
$425,000,000 6 1/8% Senior Notes due 2014 (CUSIP No. 01958XBF3)
$400,000,000 7 3/8% Senior Unsecured Notes due 2014 (CUSIP No. 01958XBH9)
$600,000,000 7 1/4% Senior Notes due 2015 (CUSIP No. 01958XBN6)
$600,000,000 7 1/8% Senior Notes due 2016 (CUSIP No. 01958XBR7)
$750,000,000 6 7/8% Senior Notes due 2017 (CUSIP No. 01958XBS5)
Allied and AWNA are soliciting consents from security holders of record as
of 5:00 p.m., New York City time on November 26, 2008. The proposed
amendments, if adopted, will amend the reporting obligations under the
Supplemental Indentures in connection with the pending merger between Allied
and Republic Services, Inc. If adopted, the amendments will, following
consummation of the merger, allow Republic, rather than Allied or AWNA, to
make the required filings currently being made by Allied with the Securities
and Exchange Commission. Adoption of the proposed amendments is not a
condition of the closing of the merger. The proposed amendments are designed
to minimize future reporting obligations following the closing.
Allied and AWNA are offering to pay to each holder who validly delivers
its consent prior to the expiration of the solicitation and does not revoke
such consent a payment of $1.25 for each $1,000 principal amount of Securities
to which such consent relates. The solicitation will expire at 5:00 p.m., New
York City time, on Wednesday, December 10, 2008 unless extended or earlier
terminated with respect to one or more series of Securities. The detailed
terms and conditions of the consent solicitation are set forth in a consent
solicitation statement and related letter of consent dated November 26, 2008.
UBS Investment Bank will act as the Lead Solicitation Agent and BNP
PARIBAS will act as Co-Solicitation Agent for the consent solicitation. D.F.
King & Co., Inc. will act as the Information Agent and U.S. Bank National
Association will act as the Tabulation Agent. Requests for documents may be
directed to D.F. King & Co., Inc., the Information Agent, at (212) 269-5550
(call collect) or (888) 869-7406 (toll free). Questions regarding the consent
solicitation may be directed to UBS Investment Bank at (203) 719-4210 (call
collect) or (888) 722-9555 ext. 4210 (toll free), the Lead Solicitation Agent
for the consent solicitation.
This announcement is for informational purposes only and is not an offer
to purchase or sell, or a solicitation of consents with respect to any
securities. The solicitation is being made solely pursuant to the
above-described consent solicitation statement dated November 26, 2008 and the
related letter of consent.
Information Regarding Forward-Looking Statements
The disclosures herein include statements that are 'forward looking'
within the meaning of federal securities law concerning Allied's consent
solicitation. These forward-looking statements generally can be identified by
phrases such as "will," "if," "unless" or other words or phrases of similar
import. Allied's ability to complete the transaction is subject to market
conditions and other risks and uncertainties that could cause actual results
to differ materially from future results expressed or implied by such
forward-looking statements.
About Allied Waste Industries, Inc.
Allied Waste is America's second largest non-hazardous solid waste
services company and an environmental leader. Headquartered in Phoenix, AZ,
Allied Waste provides waste collection, transfer, recycling and disposal
services to millions of residential, commercial and industrial customers in
over 100 major markets spanning 38 states and Puerto Rico. Allied's team of
more than 22,000 dedicated employees operates within a highly efficient,
integrated organization that generated 2007 revenue of $6.1 billion.
SOURCE Allied Waste Industries, Inc.
