Republic to take $52 million charge to redeem senior debt

Feb. 5 – Republic Services Inc. will take a $52 million charge in its first quarter results as part of a plan to redeem senior debt.

The Phoenix-based solid waste management company said it will redeem on March 8 its 6.125% senior notes due in 2014.

The notes will be redeemed at a price equal to 102.042% of the principal amount, plus accrued and unpaid interest up to but not including the redemption date.

Republic Services expects to use its revolving credit facility and cash to fund the redemption. It also might "explore capital markets opportunities to fund the redemption if market conditions are favorable," the company said.

Contact Waste & Recycling News senior reporter Jim Johnson at 937-964-1289 or jpjohnson@crain.com