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December 15, 2020
Cresco Labs, the Chicago-based cannabis dispensary operator, closed an arrangement with lending institutions to extend the maturity of its senior safe term loan and increase the loan size to US$ 200 million. All lending institutions have actually consented to extend the Senior Loan maturity to Jan. 23th, 2023 at a decreased rates of interest of 12% per year.
The increased senior loan earnings will be utilized to money the growth of Cresco Labs’ operations in its tactical nine-state footprint and profit from other targeted development efforts in essential markets.
” This arrangement to extend and increase the Senior Loan shows the strong development and success that Cresco Labs has actually shown and the self-confidence our financiers have actually in our distinguished method,” stated Charlie Bachtell, CEO and co-founder of Cresco. “We too think in the incredible worth of our company and our capability to raise the requirement of execution for this market.”
For remarks, concerns or issues, please contact Paul Bubny
Tags: Funding, Retail