Business
GFL Environmental Successfully Reprices its Senior Secured Term Loan
GFL Environmental Successfully Reprices its Senior Secured Term Loan Canada NewsWire ...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n \n \n \n GFL Environmental Successfully Reprices its Senior Secured Term Loan\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 Sept. 25, 2023\n \n \n /CNW/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (\"GFL\" or the \"Company\"), a leading North American diversified environmental services company, today announced that it has amended its\n \n US$729.0\n \n \n \n million senior secured term loan to reduce its borrowing rate to SOFR\n \n \n +\n \n \n 250 basis points from the previous SOFR\n \n \n +\n \n \n 300 basis points, plus 10\n \n \n basis points CSA, resulting in a total borrowing rate reduction of 60\n \n \n basis points.\n \n \n \n \n \n \n \n \n \n \"Our ability to reprice our senior secured term loan on the tightest pricing terms since 2021 for a company with our credit rating is a testament to the improvement in our credit quality and the support of our high quality long standing institutional debt investors, many of whom have been with us for over a decade,\" said\n \n Patrick Dovigi\n \n , Founder and Chief Executive Officer of GFL. \"This transaction will result in approximately\n \n $6\n \n \n \n million in annualized interest savings which should not only increase free cash flow but also position us well for future credit rating upgrades.\"\n \n \n \n About GFL\n \n \n \n GFL, headquartered in\n \n Vaughan, Ontario\n \n , is the fourth largest diversified environmental services company in\n \n North America\n \n , providing a comprehensive line of solid waste management, liquid waste management and soil remediation services through its platform of facilities throughout\n \n Canada\n \n and in more than half of the U.S. states. Across its organization, GFL has a workforce of more than 20,000 employees.\n \n \n \n Forward-Looking Information\n \n \n \n This release includes certain \"forward-looking statements\" and \"forward-looking information\" (collectively, \"forward-looking information\") within the meaning of applicable U.S. and Canadian securities laws, respectively. ...