TerrAscend Completes $37M Paydown Of Senior Secured Term Loan In Pennsylvania
Portfolio Pulse from Vuk Zdinjak
TerrAscend Corp. (OTCQX:TRSSF) (CSE:TER) has paid down $37 million of its senior secured term loan in Pennsylvania, reducing the loan outstanding to $78 million and annual interest expense by $4.8 million. The company has been taking steps to reduce debt and lower interest expense, including the sale of a facility in Canada, closing a lower interest bank loan with Stearns Bank, and completing private placements.
June 30, 2023 | 1:19 pm
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TerrAscend's paydown of $37M of its senior secured term loan reduces its debt and interest expense, which could improve its financial health and attractiveness to investors.
Reducing debt and interest expense can improve a company's financial health and make it more attractive to investors. This move by TerrAscend could therefore have a positive impact on its stock price in the short term.
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