- GFL Environmental (NYSE:GFL) has amended its $725M senior secured term loan to reduce its borrowing rate to SOFR +200 basis points from the previous SOFR +250 basis points, in a transaction that was significantly oversubscribed.
- The Co. also extended the maturity of the senior secured term loan from 2027 to 2031.
- The Co. remains committed to achieving its net leverage target of between 3.65x and 3.85x by the end of the year, and believe that this transaction will move closer to its broader goal of achieving an investment grade credit rating in the medium term.
- “Our ability to reprice our senior secured term loan on one of the tightest pricing terms since 2008 for a company with our credit quality is a continued testament to our high-quality, long-standing debt investors, many of whom have been with us for over a decade.” said Patrick Dovigi, Founder and CEO.
2024-07-03