GFL Environmental Prices US$250 Million Private Senior Notes Offering

GFL Environmental Inc. (TSX: GFL) priced this morning its previously announced private offering of senior secured notes. The firm is seeking to raise $250 million in aggregate principal amount.

The offering will consist of senior secured notes due 2028 carrying an annual interest rate of 4.000%. These notes will be treated as additional notes to the previously subscribed US$500 million 4.000% senior notes due 2028 and will be considered in a single series with such.

The environmental firm relayed that the proceeds from the offering are intended to repay outstanding borrowings under its revolving credit facility and the remainder for general corporate purposes, including acquisitions.

The company also closed an offering of 4.375% senior notes due 2029 for a principal amount of US$550 million in August 2021 and an offering of 4.750% senior notes due 2029 for a principal amount of US$750 million in June 2021.

In July 2021, BMO Capital Markets reiterated their 12-month price target of $39 for the company the news broke on the agreement to acquire the Canadian Stewardship Services Alliance and created the Formation of the Resource Recovery Alliance.

GFL Environmental last traded at $47.06 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

GFL Environmental Prices US$750 Million In Senior Notes

GFL Environmental Inc. (TSX: GFL) (NYSE: GFL) this morning announced the pricing of US$750.0 million...

Wednesday, June 2, 2021, 09:04:18 AM

GFL Environmental CEO Unloads US$25 Million In Shares

GFL Environmental (TSX: GFL) has seen its CEO, Patrick Dovigi, unload millions worth of subordinate...

Saturday, December 16, 2023, 09:40:29 AM

GFL Exits Solid Waste Operations In Multiple States To De-Leverage Balance Sheet

GFL Environmental (TSX: GFL) has begun the process of selling off certain assets in an...

Monday, June 5, 2023, 09:47:02 AM

GFL Sells Majority Interest In Environmental Services Segment For $6.2 Billion

GFL Environmental (TSX: GFL) has entered into an arrangement to sell off a majority interest...

Tuesday, January 7, 2025, 08:00:15 AM

BMO Lifts GFL Environmental Price Target To $46 After Strong Results

This month, GFL Environmental Inc. (TSX: GFL) reported its third quarter financial results. The company...

Tuesday, November 23, 2021, 04:22:00 PM