The company said it commenced a private exchange offer for all of the $500 million in Stericycle’s 3.875% Senior Notes due 2029 held by eligible holders, in exchange for new notes, on September 10, 2024.

1. 01

   The company said it commenced a private exchange offer for all of the $500 million in Stericycle’s 3.875% Senior Notes due 2029 held by eligible holders, in exchange for new notes, on September 10, 2024.

2. 02

   The company is also soliciting consents from eligible holders in a concurrent consent solicitation to amend the notes and remove most restrictive covenants and events of default, other than payment-related, guarantee-related and bankruptcy-related defaults. It said the amendments require consents from holders of a majority of the aggregate principal amount of the notes.

3. 03

   The company said holders who tender by September 23, 2024 at 5 p.m. New York time and do not withdraw their tenders will receive, for each $1,000 tendered, new notes in the amount of $1,000 plus cash of $2.50 to approximately $5.00. Holders who tender after that deadline through the expiration date will receive only new notes in the amount of $970.

4. 04

   The company said the exchange offer has no minimum tender condition but is conditioned on obtaining the required consents and completing the Stericycle merger. It said the expiration date is October 8, 2024 at 5 p.m. New York time.

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Original filing

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