New Issue-Republic Services sells $1.85 bln in three parts

Mon May 2, 2011 5:25pm EDT

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  May 2 (Reuters) - Republic Services Inc (RSG.N) on Monday
sold $1.85 billion of notes in a three-part sale, said IFR, a
Thomson Reuters service.
  Bank of America Merrill Lynch, Barclays, JP Morgan and RBS
were the active joint bookrunning managers for the sale.
BORROWER: REPUBLIC SERVICES INC
TRANCHE 1                                                
AMT $700 MLN      COUPON 3.80 PCT     MATURITY 5/15/2018 
TYPE SR NTS       ISS PRICE 99.969    FIRST PAY 11/15/2011
MOODY'S Baa3      YIELD 3.805 PCT     SETTLEMENT 5/9/2011
S&P TRIPLE-B      SPREAD 115 BPS      PAY FREQ SEMI-ANNUAL
FITCH TRIPLE-B     MORE THAN TREAS    MAKE-WHOLE CALL 20 BPS
TRANCHE 2                                                
AMT $550 MLN      COUPON 4.75 PCT     MATURITY 5/15/2023 
TYPE SR NTS       ISS PRICE 99.736    FIRST PAY 11/15/2011
MOODY'S Baa3      YIELD 4.779 PCT     SETTLEMENT 5/9/2011
S&P TRIPLE-B      SPREAD 150 BPS      PAY FREQ SEMI-ANNUAL
FITCH TRIPLE-B     MORE THAN TREAS    MAKE-WHOLE CALL 25 BPS
TRANCHE 3                                                
AMT $600 MLN      COUPON 5.70 PCT     MATURITY 5/15/2041 
TYPE SR NTS       ISS PRICE 99.429    FIRST PAY 11/15/2011
MOODY'S Baa3      YIELD 5.74 PCT      SETTLEMENT 5/9/2011
S&P TRIPLE-B      SPREAD 135 BPS      PAY FREQ SEMI-ANNUAL
FITCH TRIPLE-B     MORE THAN TREAS    MAKE-WHOLE CALL 25 BPS


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