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GFL Environmental reduces borrowing rate for term loan
Waste Recovery & Management Tech
Sep 22, 2023
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Waste Recovery & Management Tech

Waste Recovery & Management Tech

Sep 22, 2023

GFL Environmental reduces borrowing rate for term loan

Funding

  • GFL Environmental Inc, a solid and liquid waste management company, has amended its USD 720 million senior secured term loan by reducing the borrowing rate by 60 basis points to SOFR + 250 basis points. Previously, the rate was SOFR + 300 basis points, plus 10 basis points CSA.

  • The reduced borrowing rate is expected to help the company save on interest expenses by ~USD 6 million, thereby increasing free cash flow and receiving better credit rating upgrades.

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