Business
Vireo Growth Inc. Completes Loan Refinancing and Upsize With a Bank Led Syndicate Arranged by CEO, John Mazarakis
-- Company completes refinancing of all existing senior secured debt through a $120 million self-syndicated term loan with leading banks, at an interest rate of 8.3% ---- Company also completes expansion of its consolidated credit facilities with an additional $33 million second lien term loan with $50 million accordion to support ongoing strategic initiatives ---- Senior secured debt refinancing is expected to generate more than $10 million in annual interest savings, strengthening the Company’
About this update from Vireo Growth Inc
[{"type":"image","alt":"Vireo Growth Inc.","displaySize":"","headline":null,"caption":"Vireo Growth Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":130,"url":"https://media.zenfs.com/en/globenewswire.com/e9ac63f691ebe4f43846df7f4e7f62a4"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/u5L1XWvWlDJUxUGOnpDHuA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE4MjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/e9ac63f691ebe4f43846df7f4e7f62a4","width":300,"height":130}},"lazy":false},{"type":"text","content":"-- Company completes refinancing of all existing senior secured debt through a $120 million self-syndicated term loan with leading banks, at an interest rate of 8.3% --","length":173,"tagName":"p"},{"type":"text","content":"-- Company also completes expansion of its consolidated credit facilities with an additional $33 million second lien term loan with $50 million accordion to support ongoing strategic initiatives --","length":217,"tagName":"p"},{"type":"text","content":"-- Senior secured debt refinancing is expected to generate more than $10 million in annual interest savings, strengthening the Company’s financial position and enhancing long-term shareholder value --","length":200,"tagName":"p"},{"type":"text","content":"MINNEAPOLIS, July 08, 2025 (GLOBE NEWSWIRE) -- Vireo Growth Inc. (“Vireo” or the “Company”) (CSE: VREO; OTCQX: VREOF) today announced the successful closing of a series of transactions that collectively refinance all of its existing senior secured debt and significantly expand its credit capacity under more favorable terms. The $153 million in combined closing date financing strengthens the Company’s balance sheet with over $100 million in cash and is expected to reduce annual interest expense by more than $10 million.","length":524,"tagName":"p"},{"type":"text","content":"On July 7, 2025, the Company closed a $120 million self-syndicated first lien term loan with a group of leading banks. The facility refinances all existing senior secured obligations and is secured by a first-priority lien on substantially all assets, including real estate and operating subsidiaries. The three-year facility accrues interest at 8.3% (1-month SOFR + 4.0%) and may be prepaid at any time without penalty.","length":425,"tagName":"p"},{"type":"text","content":"In parallel, the Company ...