PE-backed GFL Environmental unveils $350 mln debt offering

GFL Environmental Inc, a Toronto-based environmental services company, announced plans to commence a private offering of US$350 million of senior unsecured notes. GFL said it will use the proceeds to redeem US$250 million of outstanding senior secured notes, repay debt, and for other priorities, including future acquisitions and growth initiatives. GFL is backed by several investors, including HPS Investment Partners, Macquarie Group and Hawthorn Equity Partners. Last October, HPS and Macquarie invested an additional $225 million in the business.

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