Florida to Issue $210 Million in Bonds to Finance Solid Waste Disposal Facilities

By Paulo Trevisani

The Florida Development Finance Corporation plans to issue $210 million in bonds to finance the development of solid waste disposal facilities throughout the state.

The Series 2024A Solid Waste Disposal Revenue Bonds are to be offered only to certain institutional buyers, which must buy at least $250,000 of the securities "without a view to any sale or distribution thereof," according to a document posted Tuesday on MuniOS.

The proceeds will be used to finance projects run by GFL Solid Waste Southeast.

The bonds are guaranteed by GFL Environmental Inc.

The fixed rate term bonds have an expected final maturity date of October 1, 2054. The bonds are expected to be priced the week of Sept. 30, with settlement expected on Oct. 10.

The bonds are exempt from federal income tax but subject to the alternative minimum tax.

The bonds are expected to be rated B3 by Moody's Investors Service and B by S&P Global Ratings.

BofA Securities is the underwriter.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

September 24, 2024 14:59 ET (18:59 GMT)

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