[PRESS RELEASE] – CHICAGO, Aug. 13, 2025 – Cresco Labs Inc. introduced the remaining of its in the past introduced refinancing of the corporate’s senior secured credit score facility.
The brand new US$325 million senior secured time period mortgage bears an rate of interest of 12.5% in line with annum and matures on Aug. 13, 2030. It replaces the corporate’s prior US$360 million facility, lowering overall debt, extending the adulthood to 2030, and offering enhanced flexibility to prepay as much as US$125 million at a discounted top class.
“This transaction is every other milestone in our disciplined technique to capital control,” Cresco Labs CEO Charlie Bachtell mentioned. “We now have bolstered our steadiness sheet and got rid of near-term refinancing possibility. With this basis in position, we will be able to stay interested in executing our expansion technique.”
Proceeds from the brand new facility, at the side of money readily available, have been used to pay off in complete the present time period mortgage. The ability accommodates no fairness or convertible options and comprises commonplace monetary and operational covenants.
A.G.P. Canada Investments ULC and Cormark Securities Inc. acted as lead monetary advisers and lead arrangers at the transaction. The lead lenders have been suggested by means of Paul Hastings LLP.
