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(From Chemical Business NewsBase - Press Release)
Allied Waste Industries Inc (Allied) has priced its offering of $200 M in convertible subordinated debentures due 2034 at 4.25%. The convertible debentures have a conversion price of $20.43, a 57% premium to the closing price of Allied's common stock on 7 Apr 2004. The convertible debentures may be converted by the holders for 9.8 M shares of Allied common stock if the price of Allied's common stock is above $25.54. Upon conversion notification, Allied has the option to deliver common shares or the cash equivalent of the fair market value of the common shares. The debentures have been rated B+ by Standard & Poor's, B3 by Moody's, and B by Fitch. Concurrently, Allied Waste ...