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Marijuana multistate operator Green Thumb Industries Inc. closed a $150 million, five-year syndicated credit facility led by Valley National Bank.
According to GTI, the oversubscribed, non-brokered offering is the first bank-only financing of its kind in the regulated U.S. cannabis industry.
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The Chicago-based MSO plans to use proceeds of the credit facility and existing cash to retire $225 million in senior secured debt due April 30, 2025, according to a news release.
The notes have
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