Summary
Republic Services, Inc. (RSG) has filed an 8-K report detailing a significant debt offering aimed at raising capital. The company has agreed to sell $350 million in 4.875% notes due 2029 and $650 million in 5.000% notes due 2033, totaling $1 billion in aggregate principal amount. These notes are being issued under existing indentures and are expected to close around December 12, 2023. The issuance of the 2029 notes represents a further tranche of existing notes, which will be fungible with the previously issued notes.
Key Highlights
- 1Republic Services is raising $1 billion through a debt offering, consisting of $350 million in 4.875% notes due 2029 and $650 million in 5.000% notes due 2033.
- 2The offering is expected to close on or about December 12, 2023, subject to customary closing conditions.
- 3The 4.875% notes due 2029 are a further issuance and will be fungible with the existing 4.875% notes due 2029 previously issued in March 2023.
- 4The notes are being issued under Republic Services' existing base indenture and supplemental indentures.
- 5The offering is registered under the Securities Act of 1933 via a Form S-3 registration statement.
- 6Key documents related to the offering, including the Underwriting Agreement and forms of supplemental indentures, are filed as exhibits to this 8-K.