GFL Environmental to sell minimum $250 million five-year notes Tuesday

By Paul A. Harris

Portland, Ore., Jan. 25 – GFL Environmental Corp. plans to price at least $250 million of five-year senior notes on Tuesday, according to a syndicate source.

The Rule 144A and Regulation S for life deal was scheduled to be marketed on an investor call set for late Monday morning.

Credit Suisse Securities (USA) LLC, BMO Securities and Barclays are the joint bookrunners.

The notes become callable after two years at par plus 50% of the coupon and feature a two-year 35% equity clawback and a 101% poison put.

The Vaughan, Ont.-based solid and liquid waste management company plans to use the proceeds to fund the acquisition of the Matrec solid waste division of TransForce Inc.

The co-issuer will be special purpose vehicle GFL Escrow Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.