Cannabis MSO Trulieve closes commercial loan worth $90.4 million

Florida-based cannabis multi-state operator Trulieve Cannabis closed two commercial loans last December for total proceeds of $90.4 million, including a $71.5 million five-year loan and a 10-year loan worth $18.9 million. The larger five-year loan bears an interest rate of 7.53 percent and is secured by a Florida growing and manufacturing facility, according to a news release. The money was loaned by three banks, with Valley National Bank as the lead institution. The smaller, long-term loan carries an interest rate of 7.3 percent for the first five years and thereafter an interest rate equal to the five-year Treasury bill rate plus 3.5 percent. The MSO said it plans to use the net proceeds from the two loans for general corporate purposes.

Information source: new.qq.com/omn/author/8713560