PHOENIX, Nov. 26 /PRNewswire-FirstCall/ -- Allied Waste Industries, Inc.
(NYSE: AW) announced that it and its subsidiary, Allied Waste North America,
Inc. ('AWNA') today commenced a consent solicitation to amend the supplemental
indentures (collectively referred to as the 'Supplemental Indentures')
governing the following outstanding debt securities of AWNA (the
'Securities'):
$350,000,000 6 1/2% Senior Notes due 2010 (CUSIP No. 01958XBA4)
$400,000,000 5 3/4% Senior Notes due 2011 (CUSIP No. 01958XBD8)
$275,000,000 6 3/8% Senior Notes due 2011 (CUSIP No. 01958XBK2)
$450,000,000 7 7/8% Senior Notes due 2013 (CUSIP No. 01958XAZ0)
$425,000,000 6 1/8% Senior Notes due 2014 (CUSIP No. 01958XBF3)
$400,000,000 7 3/8% Senior Unsecured Notes due 2014 (CUSIP No. 01958XBH9)
$600,000,000 7 1/4% Senior Notes due 2015 (CUSIP No. 01958XBN6)
$600,000,000 7 1/8% Senior Notes due 2016 (CUSIP No. 01958XBR7)
$750,000,000 6 7/8% Senior Notes due 2017 (CUSIP No. 01958XBS5)
Allied and AWNA are soliciting consents from security holders of record as
of 5:00 p.m., New York City time on November 26, 2008. The proposed
amendments, if adopted, will amend the reporting obligations under the
Supplemental Indentures in connection with the pending merger between Allied
and Republic Services, Inc. If adopted, the amendments will, following
consummation of the merger, allow Republic, rather than Allied or AWNA, to
make the required filings currently being made by Allied with the Securities
and Exchange Commission. Adoption of the proposed amendments is not a
condition of the closing of the merger. The proposed amendments are designed
to minimize future reporting obligations following the closing.
Allied and AWNA are offering to pay to each holder who validly delivers
its consent prior to the expiration of the solicitation and does not revoke
such consent a payment of $1.25 for each $1,000 principal amount of Securities
to which such consent relates. The solicitation will expire at 5:00 p.m., New
York City time, on Wednesday, December 10, 2008 unless extended or earlier
terminated with respect to one or more series of Securities. The detailed
terms and conditions of the consent solicitation are set forth in a consent
solicitation statement and related letter of consent dated November 26, 2008.
UBS Investment Bank will act as the Lead Solicitation Agent and BNP
PARIBAS will act as Co-Solicitation Agent for the consent solicitation. D.F.
King & Co., Inc. will act as the Information Agent and U.S.