GFL will issue US$750 million of senior notes due 2031 through a private offering by its US subsidiary guaranteed by the parent. Proceeds will repay revolver draws, fund SECURE Waste Infrastructure Corp acquisition costs, cover fees and keep leverage in the mid 3.0x range while cutting average borrowing costs.
GFL intends to privately issue US$750 million of senior notes due June 2031 through a U.S. subsidiary fully guaranteed by the parent company. The offering targets qualified institutional buyers under Rule 144A and investors outside the U.S. under Regulation S, with a parallel private placement in select Canadian provinces.
Proceeds will repay outstanding draws on GFL’s revolving credit facility, cover fees and expenses, and fund a portion of the cash consideration and transaction costs for the SECURE Waste Infrastructure Corp acquisition. Remaining funds support other growth initiatives and general corporate purposes.
The company expects the transaction to be leverage neutral, maintaining its net debt-to-EBITDA ratio in the mid 3.0x range. By replacing higher-cost revolver borrowings with long-term notes, GFL aims to lower its average effective borrowing rate.
The notes will not be registered under the Securities Act of 1933 and may only be sold under applicable exemptions. Sales are restricted to qualified institutional buyers in the U.S. and private placements in Canada, ensuring compliance with cross-border securities regulations.
