Cresco Extends and Upsizes Elder Loan

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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.”

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Tags: Funding, Retail

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