USA WASTE SERVICES ANNOUNCES $40 MILLION FINANCING
USA WASTE SERVICES ANNOUNCES $40 MILLION FINANCING DALLAS, Sept. 18 /PRNewswire/ -- USA Waste Services, Inc.
(NASDAQ: USAS) announced today the effectiveness of its registration statement covering a public offering of $40 million of 8-1/2 percent convertible subordinated debentures, underwritten by Dillon, Read & Co. Inc. and Sanders Morris Mundy Inc. The debentures will mature Oct. 15, 2002 and are convertible into USA common stock at $13.25 per share. The debentures will trade on NASDAQ under the symbol "USASG".
The company originally filed a proposed $30 million offering with the Securities and Exchange Commission, but increased the amount as a result of strong market demand. The net proceeds will be used to retire existing company indebtedness and for general corporate purposes. Earl E. DeFrates, USA's chief financial officer, stated that the completion of the financing will provide the company with added financial strength and will be important to the company's plans of continuing to grow through acquisitions. USA Waste, based in Dallas, is a rapidly growing solid waste management company performing both waste collection and disposal services in multiple locations nationwide. -0- 9/18/92 /CONTACT: Earl E. DeFrates of USA Waste Services, Inc., 214-233-4212/ (USAS) CO: USA Waste Services, Inc. ST: Texas IN: SU: FNC
AH -- NY039 -- 1093 09/18/92 11:58 EDT
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|Date:||Sep 18, 1992|
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