| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for GFL Environmental Inc. > News item |
GFL Environmental driving by with $400 million eight-year notes; price talk 4¼%-4½%
By Paul A. Harris
Portland, Ore., Nov. 16 – GFL Environmental, Inc. plans to price a $400 million offering of eight-year senior notes (existing ratings B3/B-) in a Monday drive-by trailing a mid-morning conference call with investors, according to market sources.
Price talk is 4¼% to 4½% versus initial talk in the high 4% area, a trader said.
Books close at 1:30 p.m. ET on Monday, and the deal is set to price thereafter.
Joint bookrunner Barclays will bill and deliver. BMO, CIBC, RBC and Scotia are also joint bookrunners.
Goldman Sachs, JPMorgan, NBC, Stifel and TD are the co-managers.
The Rule 144A for life notes become callable after three years at par plus 50% of the coupon. They feature a three-year 40% equity clawback at par plus the coupon and have a 101% poison put.
The Vaughan, Ont.-based diversified environmental services company plans to use the proceeds to refinance its 7% senior notes due 2026 and for general corporate purposes.
© 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.