Marijuana MSO Verano ups credit agreement with $120M loan at 8.5%

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.

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