Curaleaf Holdings To Raise US$425 Million Via Secured Notes

Curaleaf Holdings (CSE: CURA) evidently is looking to access the debt markets despite weakness in the sector. The firm last night announced that it would be raising US$425 million via senior secured notes, the largest such offering within the sector to date.

The financing will see the secured notes have a maturity of five years, with the debt bearing interest at a rate of 8.0% per annum, payable semi annually. The arrangement will also see the terms of the debt enable the company to issue further notes as needed, while also allowing the firm to source up to US$200 million in senior bank faincning.

The private placement is reportedly fully committed. Proceeds from the offering are to be used to repay existing debt, as well as for working capital, transactions fees, and expenses.

“This offering will allow us to refinance our existing debt at a materially lower interest rate and provides us with additional financial flexibility to execute our strategic growth initiatives. While this initial offering provides more than enough liquidity to refinance our existing debt and meet current needs, the new Indenture provides us a new degree of flexibility to raise debt financing to ensure we have ample liquidity to meet our needs now and into the future,” commented the firms CEO Joseph Bayern on the development.

The financing is slated to close December 15, 2021.

Curaleaf Holdings last traded at $11.71 on the CSE.


Information for this briefing was found via Sedar and Curaleaf Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Curaleaf Consensus Target Remains Flat After Record Quarter

On August 9, Curaleaf Holdings (CSE: CURA) reported record second quarter financial results. The company...

Tuesday, August 17, 2021, 11:43:00 AM

Curaleaf Receives Approval For TSX Listing

Curaleaf Holdings (CSE: CURA) is officially leaving the Canadian Securities Exchange. The company has been...

Thursday, December 7, 2023, 08:58:30 AM

US Cannabis: Stifel Expects Growth To Decelerate In Q4 Earnings

On February 2nd, Stifel-GMP put out their fourth quarter 2021 earnings preview, calling it “The...

Wednesday, February 9, 2022, 04:33:00 PM

Curaleaf To Enter European Market With US$286 Million Acquisition

Curaleaf Holdings (CSE: CURA) this evening announced that it is making a move into European...

Tuesday, March 9, 2021, 04:15:39 PM

Curaleaf To Exit Most Operations In California, Oregon And Colorado Immediately

The protracted bear market in the cannabis sector is beginning to impact tier one operations,...

Thursday, January 26, 2023, 08:52:53 AM