GFL Environmental Completes $1 Billion Senior Notes Offering
Simpson Thacher represented GFL Environmental Inc. (“GFL”) in connection with the Rule 144A/Regulation S offering of $1 billion aggregate principal amount of 5.500% Senior Notes due 2034. GFL will use the net proceeds from the offering of the Notes, together with cash on hand, to repay amounts drawn on its revolving credit facility and the remainder for general corporate purposes.
The Notes were issued by GFL Environmental Holdings (US), Inc., a U.S. wholly owned subsidiary of GFL, and are guaranteed by GFL and its subsidiaries that guarantee its revolving credit facility and existing notes.
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 18 U.S. states. Across its organization, GFL has a workforce of approximately 15,000 employees.
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