Green Thumb Industries Inc C.GTII

Green Thumb Industries Refinances its Senior Debt

[Betteryear2]

• Closes $150 million 5-year credit facility at an industry-leading interest rate of SOFR +5.00%
• Utilizes proceeds to retire existing senior secured debt, due April 30, 2025
• Oversubscribed, non-brokered offering is a first-of-its-kind of bank-only financing in the U.S. cannabis industry

CHICAGO and VANCOUVER, British Columbia, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today announced it has closed on a $150 million 5-year syndicated credit facility led by Valley National Bank, a regional bank with over $62 billion in assets and the principal subsidiary of Valley National Bancorp. The Company intends to use the proceeds along with existing cash to retire its $225 million senior secured debt due April 30, 2025.

Green Thumb Industries Refinances its Senior Debt Via (globenewswire.com)

[Betteryear2]

The Notes have a maturity date of September 11, 2029 and will bear interest from the date of issue at Secured Overnight Financing Rate (SOFR) + 500 basis points, payable quarterly. The transaction did not involve the issuance of any Green Thumb equity to any of the participating banks.

[Oldweed]

Being able to secure that note at 5% without printing shares speaks volumes to the financial soundness of this company. I think the cheapest I have seen recently was CURA @ 8%!