March 25, 2011 09:01 ET

IESI-BFC Ltd. Announces Exercise of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - March 25, 2011) - IESI-BFC Ltd. (the "Company") (TSX:BIN)(NYSE:BIN) today announced that the underwriters of its recent public secondary offering have exercised their over-allotment option in full and will purchase an additional 1,422,547 common shares at US$23.50 per share. The option was granted pursuant to the offering by TC Carting III, L.L.C. (the "selling securityholder"), an affiliate of Thayer I Hidden Creek Partners, L.L.C, of 9,483,648 common shares, at an offering price of US$23.50 per share, which is expected to close on March 29, 2011. The net proceeds with the exercise of the option will total US$245,403,020.24. BofA Merrill Lynch, J.P. Morgan, and Raymond James are acting as joint book-running managers for the offering.

All of the common shares in this offering are being sold by TC Carting III, L.L.C. The Company will not receive any proceeds from the sale of common shares offered by the selling securityholder. 

The common shares are being offered under the Company's existing base shelf prospectus filed in Canada and the United States.

A copy of the prospectus supplement and related base shelf prospectus is available on EDGAR at and on SEDAR at Alternatively, copies of the prospectus supplement and the related base shelf prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or email or J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (Tel: 866-803-9204).

This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Forward-looking statements

Certain statements in this news release relating to the offering are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Such risks and uncertainties include, but are not limited to: the need to satisfy regulatory and legal requirements with respect to the offering; changes in economic conditions or financial markets; and such other risks and uncertainties that are difficult to predict or are beyond the Company's control, including those that are described in the prospectus supplement. Consequently, readers should not place undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward looking statements, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Contact Information