Waste Management has raised $400 million in a sale of notes, The Wall Street Journal reports. Deutsche Bank and Royal Bank of Scotland were the joint bookrunning managers for the deal.

The notes carry a coupon rate of 4.60% and are due to mature on March 1, 2021. The company intends to use the net proceeds to pay down about $147 million of remaining 7.65% senior notes when they mature in March 2011 and accrued and unpaid interest.

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