Summary
Republic Services, Inc. (RSG) announced on March 21, 2023, its agreement to sell $1.2 billion in aggregate principal amount of senior notes. This offering consists of $400 million of 4.875% notes due in 2029 and $800 million of 5.000% notes due in 2034. The transaction is expected to close around March 28, 2023, subject to customary closing conditions. This debt issuance indicates the company's strategy to secure long-term financing, likely to support ongoing operations, potential acquisitions, or capital expenditures. Investors should note the specific interest rates and maturity dates, which provide insight into the cost of capital and the company's debt maturity profile. The offering was registered under the Securities Act of 1933, confirming compliance with regulatory requirements.
Key Highlights
- 1Republic Services Inc. is issuing $400 million in 4.875% notes due 2029.
- 2Republic Services Inc. is issuing $800 million in 5.000% notes due 2034.
- 3Total aggregate principal amount of notes being offered is $1.2 billion.
- 4The offering is expected to close on or about March 28, 2023.
- 5The notes are issued under an existing indenture, supplemented by a Thirteenth Supplemental Indenture.
- 6The offering was registered under the Securities Act of 1933 via a Form S-3 registration statement.
- 7Key documents, including the Underwriting Agreement and forms of the notes and supplemental indenture, are filed as exhibits.