GFL Environmental Prices Upsized Private Offering Of $1B .750% Senior Secured Notes Due 2031
Portfolio Pulse from Benzinga Newsdesk
GFL Environmental has upsized its private offering of senior secured notes to $1 billion, an increase of $300 million from the initially announced $700 million. The company plans to use the proceeds to fully repay its Term Loan A Facility and most of the outstanding borrowings under its Revolving Credit Facility.
November 30, 2023 | 6:51 am
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GFL Environmental's upsized offering could improve its debt profile by repaying existing loans, potentially leading to a more favorable credit position.
The upsizing of GFL Environmental's notes offering indicates strong investor demand, which could be viewed positively by the market. The use of proceeds to repay debt is generally seen as a positive step towards financial stability and could lead to a reduction in interest expenses. This may be viewed favorably by investors in the short term, potentially leading to an increase in the stock price.
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