Summary
Republic Services, Inc. (RSG) filed an 8-K on August 1, 2019, to report on a significant debt offering. The company entered into an Underwriting Agreement on July 29, 2019, to sell $900 million in aggregate principal amount of 2.500% notes due 2024. This offering is expected to close around August 7, 2019, subject to standard closing conditions. This debt issuance provides Republic Services with substantial capital, likely for general corporate purposes or to refinance existing debt. The specific terms of the notes and the supplemental indenture governing them are detailed, with key legal documents filed as exhibits to the report. Investors should note the coupon rate of 2.500% and the maturity date of 2024, which indicate a relatively low cost of borrowing for the company at that time.
Key Highlights
- 1Republic Services, Inc. announced the sale of $900 million in aggregate principal amount of 2.500% notes due 2024.
- 2The debt offering was agreed upon on July 29, 2019.
- 3The closing of the offering is anticipated on or about August 7, 2019.
- 4The notes are issued under an existing Indenture, supplemented by an Eighth Supplemental Indenture.
- 5The offering is registered under the Securities Act of 1933 via a Form S-3 registration statement.
- 6Key legal documents, including the underwriting agreement and forms of the supplemental indenture and notes, are filed as exhibits.