GFL Environmental completes SECURE Waste acquisition

• GFL Environmental completed its acquisition of SECURE Waste Infrastructure Corp.
• The transaction was financed with a $1 billion term loan and 75.1 million GFL shares.
• GFL expects the deal to support its long-term financial targets while maintaining leverage goals.

GFL Environmental (NYSE:GFL) completed its acquisition of SECURE Waste Infrastructure Corp., adding SECURE’s waste infrastructure operations and more than 2,000 employees to GFL.

The transaction was financed through GFL’s revolving credit facility, the issuance of 75,126,306 subordinate voting shares, and a new US$1 billion senior secured term loan.

The senior secured term loan matures on August 28, 2033 and carries interest at SOFR plus 200 basis points, or approximately 5.0% after cross-currency swaps.

GFL expects the acquisition to support its multi-year financial targets while maintaining targeted year-end net leverage in the mid-3 range.

GFL Environmental provides waste management and environmental services across North America, including collection, transfer, recycling, and disposal operations.

SECURE Waste Infrastructure shares are expected to be delisted from the TSX on or about September 2, 2026, while newly issued GFL shares for SECURE shareholders are expected to begin trading under the GFL ticker on the TSX and NYSE around the same date.