Loan & DebtJun 23, 2026, 06:56 AM
GFL Environmental Prices $750M Senior Notes Due 2031 at 5.625%
AI Summary
GFL Environmental Inc. announced the pricing of a private offering of US$750 million in senior notes due 2031. The notes carry a stated coupon of 5.625%, which is expected to be approximately 4.500% after cross currency interest rate swaps. The company plans to use the proceeds to repay its revolving credit facility, fund the previously announced acquisition of SECURE Waste Infrastructure Corp., and pursue other growth initiatives, aiming to lower its average effective borrowing rate and maintain leverage neutrality.
Key Highlights
- GFL Environmental priced US$750 million in aggregate principal amount of senior notes.
- The senior notes are due in 2031 with a stated coupon of 5.625%.
- Effective coupon is approximately 4.500% after cross currency interest rate swaps.
- Proceeds will repay revolving credit facility and fund the acquisition of SECURE Waste Infrastructure Corp.
- The offering is expected to lower the Company's average effective borrowing rate.
- The transaction is anticipated to be leverage neutral, maintaining leverage in the mid 3.0x range.
Price Impact
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