GFL Environmental to sell $250 million five-year notes March 9 week

By Paul A. Harris

Portland, Ore., March 3 – GFL Environmental Inc. plans to price a $250 million offering of senior notes due 2020 in the week ahead, according to an informed source.

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

The deal, which is formatted as a Rule 144A offering in the United States and will be privately placed in Canada, comes with two years of call protection.

The Vaughan, Ont.-based environmental services company plans to use the proceeds to repay revolver and unsecured term loan debt, as well as to fund the tender for up to $50 million of its 7½% Canadian dollar-denominated senior notes, and for general corporate purposes, including potential acquisitions.

GFL Environmental provides solid and liquid waste collection, treatment and disposal solutions as well as soil remediation services to municipal, industrial and commercial sectors.

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