Canopy Growth Slashes Debt With $100M Loan Prepayment, Saves $14M In Interest
Cannabis giant Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) has made an early payment of $100 million on its senior secured loan at a discounted price of $97.5 million. This move reduces the company’s debt and saves around $14 million in annual interest costs, while highlighting its focus on financial discipline.
“This early prepayment reflects our ongoing commitment to reducing cash burn and strengthening our capital structure,” stated Judy Hong, CFO of Canopy Growth. “Our proactive steps to reduce debt and extend maturity enhance our balance sheet flexibility to invest in growth areas and drive long-term value creation for our shareholders.”
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