STAMFORD, Conn. — Curaleaf Holdings Inc. has entered into an amended and restated credit agreement with Needham Bank of its revolving credit facility, expanding the borrowing capacity from $40 million to $100 million and extending the maturity to up to five years.
The upsized secured revolving Credit Facility has an initial term of one year and bears interest on any outstanding principal of 7.99 percent. The facility is subject to extension for up to five years with a rate step up to 8.99 percent in the event of the Company refinancing the Senior Note Facility due 2026. Curaleaf intends to draw on the Credit Facility to pay a minimum of $50 million of its remaining, higher-interest-bearing, acquisition-related debt while also maintaining ample capacity to support working capital needs.
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