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OFFON

REPUBLIC SERVICES, INC.

(RSG)
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Republic Services, Inc. Enters into an Amended and Restated Credit Agreement, with Bank of America, N.A

08/23/2021 | 07:12am EDT

On August 17, 2021, Republic Services, Inc. entered into an Amended and Restated Credit Agreement, with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer and the other lenders party thereto. The Credit Agreement amends and restates the Company’s prior Credit Agreement, dated as of June 8, 2018, with Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer and the other lenders party thereto, as amended. The Credit Agreement is unsecured and will mature in August 2026. Under the Credit Agreement, each lender agrees to make loans to the Company in an aggregate amount not to exceed the amount of such lender’s commitment set forth in the Credit Agreement with the total outstanding principal amount under the Credit Agreement not to exceed the current aggregate lenders’ commitments of $3.0 billion, as such amounts may be adjusted from time to time in accordance with the Credit Agreement. The company may request two one-year extensions of the maturity date, but none of the lenders are committed to participate in such extensions. The Credit Agreement includes a feature that allows the Company to increase availability under the facility, at the company’s option, by an aggregate amount of up to $1.0 billion, through increased commitments from existing lenders or the addition of new lenders, subject to obtaining additional commitments and other customary conditions. At the company’s option, and subject to customary conditions, borrowings bear interest at a base rate, a daily floating London Interbank Offered Rate rate or a Eurodollar rate, plus an applicable margin based on the Company’s debt ratings. On the earliest of (i) the date that all available tenors of U.S. dollar LIBOR have permanently or indefinitely ceased to be provided or have been announced to be no longer representative, (ii) June 30, 2023 or (iii) the effective date of an election to opt into a secured overnight financing rate, the LIBOR rate will be replaced by a forward-looking term rate based on SOFR or a daily rate based on SOFR published on such date. After the effective date of the Credit Agreement, the Company, in consultation with one or more lenders selected by the Company to be the sustainability coordinator under the Credit Agreement, will be entitled to establish specified key performance indicators with respect to certain environmental, social and governance targets of the Company and its subsidiaries. The Sustainability Coordinator, the Company and the Administrative Agent may amend the Credit Agreement, unless such amendment is objected to by lenders holding more than 50% of the commitments under the Credit Agreement, solely for the purpose of incorporating the KPIs so that certain adjustments to the otherwise applicable facility fee or interest rate may be made based on the company’s performance against the KPIs.


© S&P Capital IQ 2021
All news about REPUBLIC SERVICES, INC.
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Analyst Recommendations on REPUBLIC SERVICES, INC.
More recommendations
Financials (USD)
Sales 2021 11 071 M - -
Net income 2021 1 260 M - -
Net Debt 2021 9 050 M - -
P/E ratio 2021 33,7x
Yield 2021 1,31%
Capitalization 42 428 M 42 428 M -
EV / Sales 2021 4,65x
EV / Sales 2022 4,38x
Nbr of Employees 35 000
Free-Float 99,5%
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Technical analysis trends REPUBLIC SERVICES, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 133,27 $
Average target price 129,79 $
Spread / Average Target -2,61%
EPS Revisions
Managers and Directors
Jon Vander Ark President, Chief Executive Officer & Director
Brian M. DelGhiaccio Chief Financial Officer & Executive Vice President
Manuel Kadre Chairman
Timothy E. Stuart Chief Operating Officer & Executive VP
Catharine D. Ellingsen Secretary, EVP, Chief Legal & Ethics Officer
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