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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.

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