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Feuerstein Kulick Advises Lenders on $275M Senior Secured Term Loan to Curaleaf Holdings, Inc.

December 20, 2019 GMT
Feuerstein Kulick advises alternative investors, private equity funds, investment funds, family offices, distressed debt funds, lenders (on a syndicated and single-lender basis) and cannabis companies on all aspects of debt finance and procuring capital in the legal cannabis space, including deals of all sizes with various debt and credit structures.
Feuerstein Kulick advises alternative investors, private equity funds, investment funds, family offices, distressed debt funds, lenders (on a syndicated and single-lender basis) and cannabis companies on all aspects of debt finance and procuring capital in the legal cannabis space, including deals of all sizes with various debt and credit structures.

NEW YORK, Dec. 20, 2019 /PRNewswire/ -- Curaleaf Holdings, Inc. (“Curaleaf”), a leading vertically integrated cannabis operator in the United States, today announced that it has received commitments from a syndicate of lenders for a US$275 million Senior Secured Term Loan Facility (the “Facility”) with a maturity 48 months from closing. Curaleaf received commitments for the Facility from existing lenders as well as other investors. The Facility and lender commitments are subject to completion of customary closing conditions, with expected drawdown on or about January 10, 2020.

This transaction constitutes a broadly syndicated institutional deal led by sophisticated and long-term investors that have confidence in the cannabis industry and the Curaleaf team. Curaleaf is currently positioned in highly populated, limited license states, and operates in 12 states with 51 dispensaries, 14 cultivation sites and 13 processing sites. The lenders to Curaleaf are represented by Samantha Gleit at Feuerstein Kulick LLP, a boutique law firm that represents clients in all aspects of the legal cannabis space, including investors, funds, leading technology and ancillary companies, brands, license holders, and operators.

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SOURCE Feuerstein Kulick LLP