GFL Environmental Successfully Reprices its Senior Secured Term Loan - GFL Environmental (NYSE:GFL)
Summary
"Our ability to reprice our senior secured term loan on the tightest pricing terms since 2021 for a company with our credit rating is a testament to the improvement in our credit quality and the support of our high quality long standing institutional debt investors, many of whom have been with us for over a decade," said Patrick Dovigi, Founder and Chief Executive Officer of GFL. "This transaction will result in approximately $6 million in annualized interest savings which should not only increase free cash flow but also position us well for future credit rating upgrades. "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. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to, the factors described in the "Risk Factors" section of GFLs annual information form for the 2022 fiscal year filed on Form 40-F and GFLs other periodic filings with the U.S. Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. GFL undertakes no obligation to publicly update any forward-looking information, except as required by applicable securities laws.