GFL Environmental Prices $750 Million Senior Notes Due 2031 at 5.625%
GFL Environmental priced US$750 million of senior notes due 2031 at a stated coupon of 5.625%, or approximately 4.500% after cross-currency interest rate swaps the company intends to enter into, in a private offering. The notes will be issued by a U.S. wholly owned subsidiary and guaranteed by GFL and certain other subsidiaries.
Environmental Inc. priced US$750 million in aggregate principal amount of senior notes due 2031 at a stated coupon of 5.625%, or approximately 4.500% after giving effect to cross-currency interest rate swaps the company intends to enter into [1]. The notes will be issued by a U.S. wholly owned subsidiary of and guaranteed by and certain other subsidiaries [1].
The private offering marks a fixed-rate debt refinancing for the waste management company, which trades on both the New York Stock Exchange and Toronto Stock Exchange under the ticker . The transaction was announced and priced on June 23, giving institutional buyers access to investment-grade-style paper from a North American environmental services operator.
Continue reading
3 more paragraphs for subscribers.
Free readers get a daily preview and the weekly long-form. Premium unlocks every brief in full, AM & PM editions, alerts, and the archive.