Shearman & Sterling’s Finance Group and Capital Markets Group advised Advanced Disposal Services, Inc. on its comprehensive $2.25 billion debt refinancing, including $1.8 billion of new senior credit facilities and a Rule 144A offering of $425 million aggregate principal amount of 5⅝% senior notes due 2024. Concurrently with the bank/bond financing, Advanced Disposal also completed a cash tender offer for all $550 million of its outstanding 8¼% senior notes due 2020 (the “2020 Notes”), called for redemption the remaining outstanding 2020 Notes not tendered in the tender offer, and satisfied and discharged its obligations under the related indenture. 

Advanced Disposal is the fourth-largest solid waste company in the United States, providing integrated, non-hazardous solid waste collection, recycling and disposal services to residential, commercial, industrial and construction customers across 16 states and the Bahamas.

The Shearman & Sterling team below included partner Douglas McFayden; associates Naveen Pogula, Caleb Chua, Victor Nilsson, Magnus Wieslander, Francisco Cebada and Catherine Sum.

The Team