Vireo Growth Inc. Completes Refinancing and Expands Credit Facilities

Vireo Growth Inc., a leading medical cannabis company, has successfully completed a refinancing of its existing senior secured debt and expanded its credit facilities through a series of transactions. The Company has secured a total of $153 million in financing, which includes a $120 million self-syndicated first lien term loan with a group of leading banks and a $33 million second lien term loan with an accordion feature. This refinancing is expected to generate annual interest savings of more than $10 million, strengthening Vireo's financial position and enhancing long-term shareholder value.

Key Takeaways:

• Vireo Growth Inc. has refinanced its existing senior secured debt through a $120 million self-syndicated term loan with leading banks at an interest rate of 8.3%.
• The refinancing includes a $33 million second lien term loan with a $50 million accordion feature to support ongoing strategic initiatives.
• The Company expects to generate annual interest savings of more than $10 million due to the refinancing.
• The refinancing is part of a deliberate strategy to consolidate and optimize debt across the platform following Vireo's recent mergers.
• Lenders involved in the financing process cited confidence in the Company's operating model, financial strategy, and leadership continuity.
• Vireo's Chief Executive Officer, John Mazarakis, stated that the refinancing represents a disciplined capital planning initiative and a key commitment made to merger partners.

Statistics:

• $153 million: total financing secured by Vireo Growth Inc. through the refinancing and expansion of credit facilities.
• $120 million: amount of self-syndicated first lien term loan with leading banks.
• 8.3%: interest rate of the self-syndicated first lien term loan.
• $33 million: amount of second lien term loan with a $50 million accordion feature.
• More than $10 million: expected annual interest savings generated by the refinancing.

Sources:

• GlobeNewswire: "Vireo Growth Inc. (CSE: VREO) (OTCQX: VREOF) Announces Successful Closing of Refinancing and Expansion of Credit Facilities"
• Vireo Growth Inc. Press Release: "Vireo Growth Inc. Announces Successful Completion of Refinancing and Expansion of Credit Facilities"
• Vireo Growth Inc.'s Form 10-K for the year ended December 31, 2024
• Vireo Growth Inc.'s information statement regarding the Merger Transactions