New Issue: Republic Services prices $650 million 3.375% 10-year notes at 100 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Nov. 13 – Republic Services, Inc. sold $650 million of 3.375% 10-year notes (Baa3/BBB+/BBB) on Monday at 99.832 to yield 3.395%, or a spread of Treasuries plus 100 basis points, according to an FWP filed with the Securities and Exchange Commission.

BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Mizuho Securities USA Inc., MUFG, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments Inc. were the bookrunners.

Proceeds will be used to repay debt under the company's unsecured credit facilities and for general corporate purposes.

Republic Services is a waste collection company based in Phoenix.

Issuer:	Republic Services, Inc.
Amount:	$650 million
Description:	Notes
Maturity:	Nov. 15, 2027
Bookrunners:	BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Mizuho Securities USA Inc., MUFG, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments Inc.
Co-managers:	BB&T Capital Markets, BBVA Securities Inc., RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc.
Coupon:	3.375%
Price:	99.832
Yield:	3.395%
Spread:	Treasuries plus 100 bps
Call features:	Make-whole call at Treasuries plus 15 bps before Aug. 15, 2027; thereafter at par
Trade date:	Nov. 13
Settlement date:	Nov. 16
Ratings:	Moody’s: Baa3
	S&P: BBB+
	Fitch: BBB
Distribution:	SEC registered

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