VAUGHAN, ON, Aug. 17, 2020 /CNW/ - GFL Environmental Inc.
(NYSE: GFL) (TSX: GFL) ("GFL") today announced the pricing of
US$750 million in aggregate principal
amount of 3.750% senior secured notes due 2025 (the "Notes") in a
transaction that was significantly oversubscribed. The offering was
upsized by US$150 million over the
previously announced offering size of US$600
million. GFL intends to use the net proceeds from the
offering of the Notes (the "Notes Offering") for general corporate
purposes, including acquisitions.
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The Notes being offered by GFL in the Notes Offering have not
been, and will not be, registered under the Securities Act of 1933,
as amended (the "Securities Act"), and may not be offered or sold
in the United States absent
registration or an applicable exemption from registration
requirements. The Notes are being offered only to qualified
institutional buyers under Rule 144A and outside the United States in compliance with
Regulation S under the Securities Act. In Canada, the Notes are to be offered and sold
on a private placement basis in certain provinces of Canada.
This release shall not constitute an offer to sell or a
solicitation of an offer to buy any security, nor shall there be
any offer, solicitation or sale of any security in any state or
jurisdiction in which such an offer, solicitation, or sale would be
unlawful.
About GFL
GFL, headquartered in Vaughan,
Ontario, is the fourth largest diversified environmental
services company in North America,
providing a comprehensive line of non-hazardous solid waste
management, infrastructure & soil remediation and liquid waste
management services through its platform of facilities throughout
Canada and in 23 states in
the United States. Across its
organization, GFL has a workforce of more than 13,000 employees and
provides its broad range of environmental services to more than
135,000 commercial and industrial customers and its solid waste
collection services to more than 4 million households.
Forward-Looking Statements
This release includes certain "forward-looking statements",
including statements relating to the potential for an offering and
issuance of the Notes by GFL and the use of proceeds therefrom. In
some cases, but not necessarily in all cases, forward-looking
statements can be identified by the use of forward looking
terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking statements. Forward-looking
statements are not historical facts, nor guarantees or assurances
of future performance but instead represent management's current
beliefs, expectations, estimates and projections regarding future
events and operating performance. Forward-looking statements are
necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by GFL as of the date
of this release, are subject to inherent uncertainties, risks and
changes in circumstances that may differ materially from those
contemplated by the forward-looking statements. Important factors
that could cause actual results to differ, possibly materially,
from those indicated by the forward-looking statements include, but
are not limited to, the "Risk Factors" section of the Company's
final prospectus relating to its initial public offering dated
March 2, 2020 and the Company's other
periodic filings with the SEC and the securities commissions or
similar regulatory authorities in Canada. These factors are not intended to
represent a complete list of the factors that could affect GFL.
However, such risk factors should be considered carefully. There
can be no assurance that such estimates and assumptions will prove
to be correct. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
release. GFL undertakes no obligation to publicly update any
forward-looking statement, except as required by applicable
securities laws.
For more information, contact:
Patrick Dovigi
Founder and CEO
905-326-0101
pdovigi@gflenv.com
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SOURCE GFL Environmental Inc.