GFL Environmental Raises US$1 Billion in Oversubscribed Senior Notes Offering to Fund Growth

GFL Environmental ( (TSE:GFL) ) has shared an announcement.

GFL Environmental Inc. has priced a significantly oversubscribed private offering of US$1 billion in 5.500% senior notes due 2034, to be issued by a U.S. wholly owned subsidiary and guaranteed by GFL and certain subsidiaries. The company plans to use the proceeds to repay borrowings under its revolving credit facility and for general corporate purposes, aiming to maximize liquidity to support its growth strategy while keeping leverage in the low-to-mid 3.0x range and having only an immaterial impact on its overall borrowing cost, underscoring continued strong support from institutional debt investors and a disciplined capital structure. The notes will be sold to qualified institutional buyers in the United States and on a private placement basis in certain Canadian provinces, highlighting GFL’s ongoing access to deep private credit markets and its focus on funding expansion without materially increasing balance-sheet risk for stakeholders.

The most recent analyst rating on (TSE:GFL) stock is a Buy with a C$59.00 price target. To see the full list of analyst forecasts on GFL Environmental stock, see the TSE:GFL Stock Forecast page.

Spark’s Take on TSE:GFL Stock

According to Spark, TipRanks’ AI Analyst, TSE:GFL is a Neutral.

GFL Environmental’s overall stock score is driven by strong earnings call performance and positive corporate events, which are offset by financial challenges and weak technical indicators. The company’s strategic focus on growth and capital returns is promising, but high leverage and valuation concerns pose risks.

To see Spark’s full report on TSE:GFL stock, click here.

More about GFL Environmental

GFL Environmental Inc. is the fourth-largest diversified environmental services company in North America, providing comprehensive solid waste management services through a network of facilities across Canada and 18 U.S. states. The company employs more than 15,000 people and focuses on integrated waste solutions for municipal, industrial, commercial and institutional customers.

Average Trading Volume: 349,601

Technical Sentiment Signal: Hold

Current Market Cap: C$21.24B

For an in-depth examination of GFL stock, go to TipRanks’ Overview page.