TerrAscend Closes $25M Commercial Loan With Stearns Bank
Portfolio Pulse from Maureen Meehan
TerrAscend Corp. (OTCQX: TRSSF) has closed a $25 million commercial loan with Stearns Bank. The loan, which carries an interest rate of prime plus 2.25% and matures in December 2024, will be used to pay down the company's higher interest rate debt, thereby reducing overall interest expense. Stearns Bank extended the loan under its Cannabis Banking Program.

June 27, 2023 | 4:34 pm
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POSITIVE IMPACT
TerrAscend's new loan from Stearns Bank will help reduce its overall interest expense by paying down higher interest rate debt. This could improve the company's financial health and potentially its stock performance.
The loan will help TerrAscend reduce its overall interest expense, which could improve its financial health. A healthier financial status often leads to better stock performance, hence the positive score. The news is highly relevant as it directly involves TerrAscend and is important as it impacts the company's financial strategy. The confidence level is high as the impact of such financial actions is generally well-understood.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100