Republic Services Prices $1B Senior Notes Offering

TL;DR

RSG just priced $1B in notes due 2034 at 5.125% to fund growth and debt.

AI Summary

On April 24, 2024, Republic Services, Inc. announced the pricing of its offering of $1.0 billion aggregate principal amount of senior notes. The notes will mature in 2034 and will bear interest at a rate of 5.125% per annum. Republic Services intends to use the net proceeds from the offering for general corporate purposes, which may include funding future acquisitions, capital expenditures, and repaying outstanding debt.

Why It Matters

This offering provides Republic Services with significant capital, potentially enabling strategic growth through acquisitions or investments, and strengthening its financial flexibility.

Risk Assessment

Risk Level: low — The filing is a routine debt offering announcement with no immediate negative implications for the company.

Key Numbers

• $1.0B — Senior Notes Offering (Amount raised to fund corporate purposes.)
• 5.125% — Interest Rate (Cost of borrowing for the new notes.)
• 2034 — Maturity Date (Long-term debt issuance.)

Key Players & Entities

• Republic Services, Inc. (company) — Registrant
• $1.0 billion (dollar_amount) — Aggregate principal amount of senior notes
• 2034 (date) — Maturity year of senior notes
• 5.125% (dollar_amount) — Interest rate on senior notes
• April 24, 2024 (date) — Date of report

FAQ

From the Filing

0001060391-24-000198.txt : 20240425 0001060391-24-000198.hdr.sgml : 20240425 20240425160530 ACCESSION NUMBER: 0001060391-24-000198 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240424 ITEM INFORMATION: Other Events FILED AS OF DATE: 20240425 DATE AS OF CHANGE: 20240425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REPUBLIC SERVICES, INC. CENTRAL INDEX KEY: 0001060391 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 650716904 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14267 FILM NUMBER: 24876208 BUSINESS ADDRESS: STREET 1: 18500 N. ALLIED WAY CITY: PHOENIX STATE: AZ ZIP: 85054 BUSINESS PHONE: 480 627 2700 MAIL ADDRESS: STREET 1: 18500 N. ALLIED WAY CITY: PHOENIX STATE: AZ ZIP: 85054 FORMER COMPANY: FORMER CONFORMED NAME: REPUBLIC SERVICES INC DATE OF NAME CHANGE: 19980423 8-K 1 rsg-20240424.htm 8-K rsg-20240424 0001060391 false 0001060391 2024-04-24 2024-04-24 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): April 24, 2024 Republic Services, Inc. (Exact name of registrant as specified in its charter)           Delaware   1-14267   65-0716904 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)       18500 North Allied Way     Phoenix, Arizona   85054 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: ( 480 )  627-2700 Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities Registered Pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol Name of exchange on which registered Common Stock, par value $0.01 per share RSG New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 8.01 Other Events. On April 24, 2024 , the Board of Directors of Republic Services, Inc. declared a regular quarterly dividend of $0.535 per share for shareholders of record on July 2, 2024. The dividend will be paid on July 15, 2024. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.   REPUBLIC SERVICES, INC. Date: April 25, 2024 By:   /s/ Catharine D. Ellingsen     Catharine D. Ellingsen     Executive Vice President, Chief Legal Officer, Chief Ethics & Compliance Officer and Corporate Secretary 3 EX-101.SCH 2 rsg-20240424.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000001 - Document - Cove