Waste Management Inc., Houston, announced July 15 that because its pending acquisition of Ponte Vedra, Florida-based Advanced Disposal Services Inc. was not completed on or prior to July 14, it will redeem the entire $3 billion aggregate outstanding principal amount of its 2.95 percent senior notes due 2024, 3.20 percent senior notes due 2026, 3.45 percent senior notes due 2029 and 4 percent senior notes due 2039 as required by the special mandatory redemption provisions of the notes. The redemption date for the notes is July 20.
According to the company, the redemption price for each series of the notes will consist of the sum equal to 101 percent of the aggregate principal amount of such series of the notes plus accrued but unpaid interest on the principal amount of such series of the notes to, but not including, the redemption date.
Notices of redemption are being sent to all currently registered holders of the notes.
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