Vireo Growth Inc. Completes Loan Refinancing and Upsize With a Bank Led Syndicate Arranged by CEO, John Mazarakis
Vireo Growth (OTCQX:VREOF) has successfully completed a major debt refinancing and expansion of its credit facilities. The company secured a $120 million self-syndicated first lien term loan at 8.3% interest rate and a $33 million second lien term loan with a $50 million accordion feature.
The total $153 million financing package is expected to generate over $10 million in annual interest savings and provides the company with more than $100 million in cash. The refinancing consolidates debt assumed from recent mergers and optimizes the company's capital structure. Both facilities have three-year terms and can be prepaid without penalties.
Vireo Growth (OTCQX:VREOF) ha completato con successo un'importante ristrutturazione del debito e l'espansione delle sue linee di credito. L'azienda ha ottenuto un prestito a termine di primo grado autogestito da 120 milioni di dollari con un tasso d'interesse dell'8,3% e un prestito a termine di secondo grado da 33 milioni di dollari con una clausola di estensione fino a 50 milioni di dollari.
Il pacchetto di finanziamento totale da 153 milioni di dollari dovrebbe generare oltre 10 milioni di dollari di risparmi annuali sugli interessi e garantisce all'azienda più di 100 milioni di dollari in liquidità. La ristrutturazione consolida il debito derivante da fusioni recenti e ottimizza la struttura del capitale dell'azienda. Entrambi i finanziamenti hanno una durata di tre anni e possono essere rimborsati anticipatamente senza penali.
Vireo Growth (OTCQX:VREOF) ha completado con éxito una importante refinanciación de deuda y la expansión de sus líneas de crédito. La compañía aseguró un préstamo a término de primer gravamen auto-sindicado de 120 millones de dólares con una tasa de interés del 8.3% y un préstamo a término de segundo gravamen de 33 millones de dólares con una opción de ampliación de 50 millones de dólares.
El paquete total de financiamiento de 153 millones de dólares se espera que genere más de 10 millones de dólares en ahorros anuales por intereses y proporciona a la empresa más de 100 millones de dólares en efectivo. La refinanciación consolida la deuda asumida por fusiones recientes y optimiza la estructura de capital de la compañía. Ambas facilidades tienen un plazo de tres años y pueden ser prepagadas sin penalizaciones.
Vireo Growth (OTCQX:VREOF)가 주요 부채 재융자 및 신용 시설 확장에 성공적으로 완료했습니다. 회사는 8.3% 이자율의 1순위 자체 주선 만기 대출 1억 2천만 달러와 3,300만 달러의 2순위 만기 대출에 5,000만 달러의 추가 확장 옵션을 확보했습니다.
총 1억 5,300만 달러의 금융 패키지는 연간 1,000만 달러 이상의 이자 절감 효과를 기대하며, 회사에 1억 달러 이상의 현금을 제공합니다. 이번 재융자는 최근 인수합병에서 발생한 부채를 통합하고 회사의 자본 구조를 최적화합니다. 두 대출 모두 3년 만기이며, 위약금 없이 조기 상환이 가능합니다.
Vireo Growth (OTCQX:VREOF) a réussi à finaliser un important refinancement de sa dette ainsi qu'une extension de ses facilités de crédit. La société a obtenu un prêt à terme de premier rang auto-syndiqué de 120 millions de dollars à un taux d'intérêt de 8,3 % ainsi qu'un prêt à terme de second rang de 33 millions de dollars avec une option d'extension de 50 millions de dollars.
Le package de financement total de 153 millions de dollars devrait permettre une économie annuelle d'intérêts de plus de 10 millions de dollars et fournir à l'entreprise plus de 100 millions de dollars en liquidités. Ce refinancement consolide la dette issue de fusions récentes et optimise la structure financière de la société. Les deux facilités ont une durée de trois ans et peuvent être remboursées par anticipation sans pénalités.
Vireo Growth (OTCQX:VREOF) hat erfolgreich eine bedeutende Schuldenrefinanzierung und Erweiterung seiner Kreditfazilitäten abgeschlossen. Das Unternehmen sicherte sich einen selbst syndizierten vorrangigen Terminkredit über 120 Millionen US-Dollar mit einem Zinssatz von 8,3 % sowie einen nachrangigen Terminkredit über 33 Millionen US-Dollar mit einer Erweiterungsoption von 50 Millionen US-Dollar.
Das gesamte Finanzierungspaket in Höhe von 153 Millionen US-Dollar soll jährliche Zinsersparnisse von über 10 Millionen US-Dollar generieren und stellt dem Unternehmen mehr als 100 Millionen US-Dollar an liquiden Mitteln zur Verfügung. Die Refinanzierung konsolidiert Schulden aus jüngsten Fusionen und optimiert die Kapitalstruktur des Unternehmens. Beide Kredite haben eine Laufzeit von drei Jahren und können ohne Strafgebühren vorzeitig zurückgezahlt werden.
- None.
- Additional debt burden through new $153 million financing package
- Exposure to variable interest rates (SOFR + 4.0% and prime + 5.5%)
-- Company completes refinancing of all existing senior secured debt through a
-- Company also complies expansion of its consolidated credit facilities with an additional
-- Senior secured debt refinancing is expected to generate more than
MINNEAPOLIS, July 08, 2025 (GLOBE NEWSWIRE) -- Vireo Growth Inc. (“Vireo” or the “Company”) (CSE: VREO; OTCQX: VREOF) today announced the successful closing of a series of transactions that collectively refinance all of its existing senior secured debt and significantly expand its credit capacity under more favorable terms. The
On July 7, 2025, the Company closed a
In parallel, the Company also closed a
These financings follow the recent completion of a series of mergers that expanded Vireo’s operational footprint and market leadership. As part of those transactions, Vireo assumed the senior debt obligations of the acquired companies as part of an otherwise all-equity consideration structure. The refinancing announced today represents the execution of a deliberate strategy to consolidate and optimize that debt across the platform.
Following the December announcement of Vireo’s recently completed corporate transactions, Chief Executive Officer John Mazarakis and Chief Financial Officer Tyson Macdonald led a targeted process to structure and syndicate the Company’s post-merger debt facilities. This initiative delivered on a key commitment made to merger partners: to rapidly refinance legacy debt and position the Company with the financial flexibility to execute its long-term strategy. The resulting outcome reflects disciplined capital planning and strong institutional demand, with the senior facility significantly oversubscribed.
Lenders involved in the financing process cited confidence in the Company’s operating model, financial strategy, and leadership continuity. The ongoing role of CEO John Mazarakis was an important consideration in establishing long-term lending relationships and ensuring alignment between capital providers and management.
“We entered this process with a clear objective: to strengthen our capital structure and reduce our cost of capital without sacrificing flexibility,” said John Mazarakis, Chief Executive Officer of Vireo. “The strong response from our lending partners reflects the progress we’ve made and the confidence in our team’s ability to execute.”
About Vireo Growth Inc.
Vireo was founded in 2014 as a medical cannabis pioneer—and we’ve never stopped pushing boundaries. We’re building the most disciplined, strategically aligned, and execution-focused platform in the industry. That means staying relentlessly local while leveraging the strength of a national portfolio, backing exceptional leaders, and deploying capital and talent where it drives the most value. Vireo operates with a long-term mindset, a bias for action, and an unapologetic commitment to its customers, employees, shareholders, industry collaborators, and the communities it calls home. For more information about Vireo, visit www.vireogrowth.com.
Contact Information
Joe Duxbury
Chief Accounting Officer
investor@vireogrowth.com
(612) 314-8995
Forward-Looking Statement Disclosure
This press release contains “forward-looking information” within the meaning of applicable United States and Canadian securities legislation. Forward-looking information contained in this press release may be identified by the use of words such as “should,” “believe,” “estimate,” “would,” “looking forward,” “may,” “continue,” “expect,” “expected,” “will,” “likely,” “subject to,” “transformation,” and “pending,” variations of such words and phrases, or any statements or clauses containing verbs in any future tense. These statements should not be read as guarantees of future performance or results. Forward-looking information includes both known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements or information contained in this press release. Forward-looking information is based upon a number of estimates and assumptions of management, believed but not certain to be reasonable, in light of management’s experience and perception of trends, current conditions, and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, the reader should not place undue reliance on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to: risks related to the achievement of management’s financial performance outlook, which may not be indicative of actual results, and risk factors set out in the Company’s Form 10-K for the year ended December 31, 2024 and the Company’s information statement regarding the Merger Transactions, both of which are available on EDGAR with the U.S. Securities and Exchange Commission and filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this press release are made as of the date of this release. Except as required by law, we undertake no obligation to update any forward-looking statements or forward-looking information to reflect events or circumstances after the date of such statements.
FAQ
What are the terms of Vireo Growth's (VREOF) new debt refinancing?
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