Chicago-based marijuana multistate operator Verano Holdings Corp. said Wednesday it amended an existing credit agreement to secure an additional $120 million in funding at a lower annual interest rate of 8.5%.
The loan brings the total outstanding senior secured term loans under the credit facility to $250 million.
The latest funding comes with the option for an additional $100 million.
The 8.5% interest rate on the new loan is below the 9.75% annual rate Verano secured for its previous upsized credit facility announced in May.
