06:56 AM EDT, 09/24/2024 (MT Newswires) -- GFL Environmental ( GFL ) said on Tuesday that it will participate in an offering of US$210 million of Florida Development Finance's Solid Waste Disposal Revenue Bonds.

Bond proceeds will be loaned to a GFL subsidiary. The loan is an unsecured obligation that will be guaranteed by GFL and certain of its subsidiaries.

GFL is pursuing the bond offering ahead of the maturing of its 3.75% Senior Secured Notes due 2025, in order to move more of its debt from secured to unsecured, consistent with an investment grade capital structure.

GFL was last seen up US$0.49, to US$40.14 in U.S. premarket trade.