Republic Services Issues $650 Million of 1.450% Senior Notes Due 2031
Republic Services, Inc. (“Republic”) (NYSE: RSG) today announced that it closed an offering of $650 million 1.450% senior notes due February 2031. The net proceeds of the offering will be used to finance the call of its 5.250% senior notes due November 2021. The redemption is expected to occur on September 10, 2020.
“We were able to capitalize on favorable market conditions and the quality of our credit to reduce interest costs and extend maturities,” said Brian DelGhiaccio, executive vice president and chief financial officer. “These transactions will reduce cash interest by approximately $20 million per year.”
The notes are unsecured and unsubordinated obligations with interest payable on February 15 and August 15 beginning February 15, 2021.