High Tide closes C$40 million senior secured credit facilities with BMO
HITI•High Tide closes C$40 million secured credit package
High Tide closed C$40 million senior secured credit facilities with Bank of Montreal.
The facilities include a C$25 million committed revolving credit facility with a three-year maturity.
High Tide repaid and terminated its ConnectFirst Credit Union senior credit facility, using part of the revolver to repay C$6 million outstanding.
The package also includes a C$15 million committed delayed-draw term loan to refinance C$15 million of second-lien debentures.
The new credit facilities are secured by substantially all company assets, subject to customary covenants.
