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CURALEAF ANNOUNCES CLOSING OF US$425 MILLION PRIVATE PLACEMENT OF 8% SENIOR SECURED NOTES DUE 2026
CURALEAF ANNOUNCES CLOSING OF US$425 MILLION PRIVATE PLACEMENT OF 8% SENIOR SECURED NOTES...
About this update from Curaleaf Holdings, Inc.
[{"type":"text","content":"\n \n \n \n CURALEAF ANNOUNCES CLOSING OF US$425 MILLION PRIVATE PLACEMENT OF 8% SENIOR SECURED NOTES DUE 2026\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRES/\n \n \n \n \n Notes offering positions Curaleaf with one of the strongest balance sheets in the industry\n \n \n \n \n \n WAKEFIELD, Mass.\n \n \n ,\n \n \n Dec. 16, 2021\n \n \n /CNW/ - Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (\"Curaleaf\" or the \"Company\"), a leading international provider of consumer products in cannabis, today announced that it has closed its previously announced private placement of 8.0% Senior Secured Notes due 2026 (the \"Notes\"), with a settlement date of\n \n December 15, 2021\n \n ,  for aggregate gross proceeds of\n \n US$425 million\n \n (the \"Offering\"). The Notes are governed by a trust indenture that was entered into on closing of the Offering (the \"Indenture\").\n \n \n The Indenture enables the Company to issue additional notes on an ongoing basis as needed, subject to maintaining leverage ratios and complying with the other terms and conditions of the Indenture. In addition, the Indenture permits up to\n \n US$200 million\n \n of senior bank financing.\n \n \n The net proceeds from the Notes will be used to refinance existing indebtedness, for working capital, and to pay transaction fees and expenses. The Notes were issued at 100% of face value, are senior secured obligations of the Company, and bear interest at a rate of 8.0% per annum, payable semi-annually in equal installments until the maturity date, unless earlier redeemed or repurchased. The Notes will mature on December 15, 2026.\n \n \n \"We are pleased to successfully complete what we believe is the largest debt financing of any publicly-traded MSO to date, underscoring our leading market position and strong financial profile,\" said\n \n Joseph Bayern\n \n , Chief Executive Officer of Curaleaf. \"With the closing of this offeri...