GFL Environmental guiding $400 million five-year notes at 5½% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., Feb. 21 – GFL Environmental Inc. plans to price a $400 million offering of five-year senior notes in a quick-to-market Wednesday trade, according to a bond trader.

Initial guidance has the deal coming with a yield in the 5½% context, the source added.

Barclays is leading the Rule 144A and Regulation S offering.

The notes come with two years of call protection.

The Vaughan, Ont.-based diversified environmental services company plans to use the proceeds to repay borrowings under its senior secured revolving credit facility and for general corporate purposes, including financing future acquisitions and organic growth initiatives.

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