VAUGHAN,
ON, Oct. 1, 2024 /PRNewswire/ - GFL
Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL") today announced
the pricing of US$210 million in
aggregate principal amount of Florida Development Finance
Corporation (the "Issuer") Solid Waste Disposal Revenue Bonds
(the "Bonds") at 4.375% in a transaction that was significantly
oversubscribed. The Bonds will have an initial mandatory tender
date of October 1, 2031. The Issuer
will loan the proceeds of the Bonds to a subsidiary of GFL to
finance or refinance certain solid waste disposal facilities
located in the State of Florida.
The loan is an unsecured obligation that will be guaranteed by GFL
and certain of its subsidiaries.
GFL is opportunistically pursuing the offering of the Bonds
(the "Bond Offering") in advance of the maturity of its 3.750%
Senior Secured Notes due 2025, with a view to moving more of its
debt from secured to unsecured, consistent with an investment grade
capital structure, extending its related debt maturities and
preserving balance sheet flexibility.
The Bonds being offered in the Bond Offering have not been, and
will not be, registered under the Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in
the United States absent
registration or an applicable exemption from registration
requirements. The Bonds are being offered only to qualified
institutional buyers as defined under Rule 144A of the Securities
Act.
This release shall not constitute an offer to sell or a
solicitation of an offer to buy any security, nor shall there be
any offer, solicitation or sale of any security in any state or
jurisdiction in which such an offer, solicitation, or sale would be
unlawful.
About GFL
GFL, headquartered in Vaughan,
Ontario, is the fourth largest diversified environmental
services company in North America,
providing a comprehensive line of solid waste management, liquid
waste management and soil remediation services through its platform
of facilities throughout Canada
and in more than half of the U.S. states. Across its organization,
GFL has a workforce of more than 20,000 employees.
Forward-Looking Information
This release includes certain "forward-looking statements",
including statements relating to the potential for an offering and
issuance of the Bonds and the use of proceeds therefrom. In some
cases, but not necessarily in all cases, forward-looking statements
can be identified by the use of forward looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved". In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking statements. Forward-looking statements are not
historical facts, nor guarantees or assurances of future
performance but instead represent management's current beliefs,
expectations, estimates and projections regarding future events and
operating performance. Forward-looking statements are necessarily
based on a number of opinions, assumptions and estimates that,
while considered reasonable by GFL as of the date of this release,
are subject to inherent uncertainties, risks and changes in
circumstances that may differ materially from those contemplated by
the forward-looking statements. Important factors that could cause
actual results to differ, possibly materially, from those indicated
by the forward-looking statements include, but are not limited to,
the "Risk Factors" section of GFL's annual information form for the
year ended December 31, 2023 and
GFL's other periodic filings with the U.S. Securities and Exchange
Commission and the securities commissions or similar regulatory
authorities in Canada. These
factors are not intended to represent a complete list of the
factors that could affect GFL. However, such risk factors should be
considered carefully. There can be no assurance that such estimates
and assumptions will prove to be correct. You should not place
undue reliance on forward-looking statements, which speak only as
of the date of this release. GFL undertakes no obligation to
publicly update any forward-looking statement, except as required
by applicable securities laws.
For more information:
Patrick Dovigi
+1 905-326-0101
pdovigi@gflenv.com
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SOURCE GFL Environmental Inc.