GFL Environmental Inc. announced that it has amended its term loans as part of its strategy to create long-term value by reducing its cost of capital, pursuing opportunistic financings to fund its growth and preserving leverage, with a view to increasing its free cash flow. GFL has amended its senior secured term loan to extend the maturity date by two years to May 31, 2027 and to transition the remainder of the loan from a LIBOR-based interest benchmark to a SOFR-based interest benchmark. The senior secured loan was refinanced on more favourable pricing terms, resulting in a reduction in the Company's cost of capital.

GFL also amended its revolving credit facility to increase the term loan portion by $275.0 million on existing terms. The proceeds from the increased loan will be used for general corporate purposes and to fund acquisitions. Following the completion of these initiatives, the Company expects to maintain its current credit rating profile and leverage within previously stated ranges.