GFL Environmental $750 million senior notes offering
Davis Polk advised the representative of the initial purchasers in a Rule 144A / Regulation S offering of $750 million aggregate principal amount of 4.750% senior notes due 2029 by GFL Environmental Inc. The proceeds of the notes offering will be used to redeem the company’s existing 8.500% senior notes due 2027, repay borrowings under the company’s revolving credit facility and for general corporate purposes, including acquisitions.
GFL, headquartered in Vaughan, Ontario, is the fourth-largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 27 states in the United States. Across its organization, GFL has a workforce of more than 15,000 employees and provides its broad range of environmental services, including collection, transportation, transfer, recycling and disposal services, to municipal, residential, commercial and industrial customers.
The Davis Polk capital markets team included partner Shane Tintle, counsel John H. Runne and associate Javier Felix. All members of the Davis Polk team are based in the New York office.