IESI-BFC (BIN) Commences Secondary Offering of 9.5 Million Shares

IESI-BFC Ltd. (NYSE: BIN) has filed a preliminary prospectus supplement relating to a public secondary offering of 9,483,648 of the Company's common shares currently owned by TC Carting III, L.L.C. (the "selling securityholder"), an affiliate of Thayer I Hidden Creek. The selling securityholder also plans to grant the underwriters an option, exercisable from time to time, in part or in whole, for a period of 30 days following the date of the final prospectus supplement, to purchase up to 1,422,547 additional shares from the selling securityholder, to cover over-allotments, if any. 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 to be offered by the selling securityholder.

The Company has agreed to purchase from the underwriters 1,000,000 common shares in the offering, at the public offering price. Those shares will be cancelled and will no longer remain outstanding after the purchase.

The Company will also purchase that number of common shares in this offering at the public offering price whose value at the time of purchase equals, in the aggregate, approximately US$6.7 million.

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