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GFL Environmental Inc. Prices Offering of US$210 Million of Tax-Exempt Industrial Revenue Bonds at 4.375%
GFL Environmental Inc. Prices Offering of US$210 Million of Tax-Exempt Industrial Revenue Bonds a...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n\n\n\n GFL Environmental Inc. Prices Offering of US$210 Million of Tax-Exempt Industrial Revenue Bonds at 4.375%\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VAUGHAN, ON\n \n\n ,\n \n\n Oct. 1, 2024\n \n\n /CNW/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (\"GFL\") today announced the pricing of\n \n US$210 million\n \n in aggregate principal amount of Florida Development Finance Corporation (the \"Issuer\") Solid Waste Disposal Revenue Bonds (the \"Bonds\") at 4.375% in a transaction that was significantly oversubscribed. The Bonds will have an initial mandatory tender date of\n \n October 1, 2031\n \n . The Issuer will loan the proceeds of the Bonds to a subsidiary of GFL to finance or refinance certain solid waste disposal facilities located in the\n \n State of Florida\n \n . The loan is an unsecured obligation that will be guaranteed by GFL and certain of its subsidiaries.\n \n\n\n\n\n\n\n\n\n GFL is opportunistically pursuing the offering of the Bonds (the \"Bond Offering\") in advance of the maturity of its 3.750% Senior Secured Notes due 2025, with a view to moving more of its debt from secured to unsecured, consistent with an investment grade capital structure, extending its related debt maturities and preserving balance sheet flexibility.\n \n\n The Bonds being offered in the Bond Offering have not been, and will not be, registered under the Securities Act of 1933, as amended (the \"Securities Act\"), and may not be offered or sold in\n \n the United States\n \n absent registration or an applicable exemption from registration requirements. The Bonds are being offered only to qualified institutional buyers as defined under Rule 144A of the Securities Act.\n \n\n This release shall not constitute an offer to sell or a solicitation of an offer to buy any security, nor shall there be any offer, solicitation or sale of any security in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful.\n \n\n\n About GFL\n \n\n\n GFL, headquartered in\n \n Vaughan, Ontario\n \n , is the fo...