VAUGHAN, ON, April 17, 2019 /CNW/ - GFL Environmental Inc. ("GFL") today announced that it is planning to commence, subject to market and other conditions, a private offering of up to US$500 million in aggregate principal amount of senior notes due 2027 (the "Notes").
GFL intends to use the net proceeds from the offering of the Notes (the "Notes Offering") (i) to fund certain interim acquisitions, (ii) to repay the outstanding borrowings under its revolving credit facility, (iii) to pay related fees and expenses in connection therewith and (iv) for general corporate purposes, which may include the repayment of certain indebtedness and funding future acquisitions.
The Notes being offered by GFL in the Notes 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 Notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act. In Canada, the Notes are to be offered and sold on a private placement basis in certain provinces of Canada.
This release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified services company in North America, providing a comprehensive line of solid waste, infrastructure and soil remediation and liquid waste management services through its platform of facilities across Canada and in 20 states in the United States. Across its organization, GFL has a workforce of more than 9,500 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.
This release may contain forward-looking information including, but not limited to, the potential for an offering and issuance of the Notes by GFL and the use of proceeds therefrom. Such forward-looking information is based on certain assumptions and analysis made by GFL in light of its experience and perception of current conditions and expected future developments as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to GFL's expectations and predictions is subject to market conditions and a number of known and unknown risks and uncertainties which could cause actual results to differ materially from GFL's expectations. Other factors which could materially affect such forward-looking information are described in the risk factors detailed in the offering documentation prepared and delivered by GFL in connection with the Notes Offering.
SOURCE GFL Environmental
For further information: Patrick Dovigi, Founder, President and Chief Executive Officer, +1 416 673 9385, email@example.com