Ascend Wellness To Issue $235M Of Senior Secured Notes To Prepay $215M Under Term Loan
Portfolio Pulse from Nina Zdinjak
Ascend Wellness Holdings, Inc. (OTCQX:AAWH) is issuing $235 million of senior secured notes to prepay $215 million under its existing term loan. This strategic move aims to enhance financial flexibility and strengthen the company's balance sheet. The notes are expected to be issued at 94.75% of face value and will close around July 16, 2024.
July 15, 2024 | 3:43 pm
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Ascend Wellness Holdings, Inc. is issuing $235 million of senior secured notes to prepay $215 million under its existing term loan. This move is expected to enhance financial flexibility and strengthen the balance sheet.
The issuance of senior secured notes to prepay a significant portion of the existing term loan will likely improve Ascend Wellness's financial stability and flexibility. This strategic move is seen positively by the market, as indicated by the 1.25% increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100