Cannabis Co. Glass House Lands $50 Million Loan With Favorable Terms: Why It Matters For The Industry
Glass House Brands Inc. (OTCQX:GLASF) (OTCQX:GHBWF), a leading vertically integrated cannabis company, has secured a $50 million senior secured loan, replacing its existing debt with more favorable terms and extended maturity.
The new credit facility, set to mature on January 31, 2030, replaces the company’s previous senior secured loan, originally scheduled to mature in November 2026. The refinancing extends the final balloon payment by three years, providing the company with additional financial flexibility.
Improved Terms, Enhanced Liquidity
Under the new agreement, the interest rate is fixed at 8.58%, significantly lower than the rate paid for the prior loan. The facility also includes an interest-only period for the first two years, preserving $13.1 million in cash flow that would have otherwise been used for principal payments in 2025 and 2026.
Following the repayment of $41 million for the prior loan and associated fees, Glass House expects to receive a net cash inflow of $8.1 million.
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