California vertically-integrated cannabis company Glass House secured a new $50 million credit line.
The senior-secured loan agreement carries a balloon payment of $40 million on the maturity date of Jan. 31, 3030, according to a press release.
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The interest rate is fixed at 8.58% for the entire term of the loan, with interest-only payments the first two years of the deal.
Some of the proceeds are earmarked to pay back $41 million in outstanding debt from a $100 million senior secured loan agreement in 2021.
That loan, financed by WhiteHawk Capital Partners, was set to mature in November 2026, the company said.
Other proceeds will fund working capital and general corporate purposes, according to Glass House.
“Refinancing the credit facility strengthens our
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