Mr. Patrick Dovigi reports

GFL ENVIRONMENTAL SUCCESSFULLY REPRICES ITS SENIOR SECURED TERM LOAN

GFL Environmental Inc. has amended its $729-million (U.S.) senior secured term loan to reduce its borrowing rate to SOFR (secured overnight financing rate) plus 250 basis points from the previous SOFR plus 300 basis points, plus 10 basis points CSA (credit spread adjustment), resulting in a total borrowing rate reduction of 60 basis points.

"Our ability to reprice our senior secured term loan on the tightest pricing terms since 2021, for a company with our credit rating, is a testament to the improvement in our credit quality and the support of our high-quality long-standing institutional debt investors, many of whom have been with us for over a decade," said Patrick Dovigi, founder and chief executive officer of GFL. "This transaction will result in approximately $6-million in annualized interest savings, which should not only increase free cash flow but also position us well for future credit rating upgrades."

About GFL Environmental Inc.

GFL, headquartered in Vaughan, Ont., is the fourth-largest diversified environmental services company in North America, providing a comprehensive line of solid waste management, liquid waste management and soil remediation services through its platform of facilities throughout Canada and in more than half of the United States. Across its organization, GFL has a work force of more than 20,000 employees.

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