Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for GFL Environmental Inc. > News item |
GFL Environmental driving by with $1 billion eight-year secured notes; initial talk 3½%-3¾%
By Paul A. Harris
Portland, Ore., Dec. 14 – GFL Environmental, Inc. plans to price a $1 billion offering of eight-year senior secured bullet notes (existing ratings Ba3/BB-) in a Monday drive-by trailing a late-morning conference call with investors, according to market sources.
Initial guidance has the notes coming to yield 3½% to 3¾%, a trader said.
Joint bookrunner Barclays will bill and deliver. BMO, CIBC, RBC and Scotia are also joint bookrunners.
Goldman Sachs, JPMorgan, NBC, Stifel, TD and BCP are the co-managers.
The Rule 144A for life notes feature a make-whole call at Treasuries plus 50 basis points until six months prior to maturity, whereupon they become callable at par. They are otherwise non-callable.
The Toronto-based waste management company plans to use the proceeds to pay down its term loan due in 2025.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.