Date: May 29, 2007
Source: Allied Waste Industries, Inc.
Allied Waste Announces $70 Million Upsize & Annual Renewal of Its Securitized Accounts Receivable Facility
Allied Waste Industries, Inc. (NYSE: AW) today announced that its wholly-owned subsidiary, Allied Waste Receivables Funding, Inc., renewed and increased to $300 million its securitized accounts receivable facility. Approximately $70 million in proceeds from the increase in the facility was used to pay down a portion of the higher interest rate term loan.
Wachovia Capital Markets, LLC is the agent. Funding is provided by Variable Funding Capital Company, LLC and Atlantic Asset Securitization, LLC, with Calyon New York branch acting as agent for Atlantic.
About Allied Waste Industries, Inc.
Allied Waste is America's second largest non-hazardous solid waste services company and an environmental leader. Headquartered in Phoenix, AZ, Allied Waste provides waste collection, transfer, recycling and disposal services to millions of residential, commercial and industrial customers in over 100 major markets spanning 37 states and Puerto Rico. Our team of 24,000 dedicated employees operates within a highly efficient, integrated organization that generated $6 billion of revenue in 2006.
For more information, contact:
James P. Zeumer
Senior Vice President, Public Affairs, Communications and Investor Relations
Allied Waste Industries, Inc.