Allied Waste Industries is commencing concurrent public offerings of common stock and mandatory convertible preferred stock under its existing shelf registration statement.
Allied Waste plans to raise $600 million of capital through the issuance of $100 million of common stock and the issuance of $500 million of mandatory convertible preferred stock. Allied Waste intends to use the net proceeds from these financing activities to:
In connection with these transactions, Allied Waste intends to issue approximately 11.6 million shares of its common stock and 2.0 million mandatory convertible preferred shares at a purchase price of $250.00 per share. In each offering, the underwriters will have a 15% over-allotment option.
Citigroup Global Markets Inc., UBS Securities LLC and Banc of America Securities LLC will be acting as joint book-running managers for the common stock offering. Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. will be acting as joint book-running managers for the mandatory convertible preferred stock offering. A copy of the prospectus supplement, together with the accompanying prospectus, relating to the common stock offering may be obtained from Citigroup Global Markets Inc., UBS Securities LLC and Banc of America Securities LLC at the addresses below. A copy of the prospectus supplement, together with the accompanying prospectus, relating to the mandatory convertible preferred stock offering may be obtained from Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. at the addresses below.
A shelf registration statement relating to the shares of common stock and the shares of mandatory convertible preferred stock has previously been filed with, and has been declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
Murdok | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.
