Valley Bank’s New Jersey Commercial Banking Team Closes a $150 Million Syndicated Credit Facility to Green Thumb Industries Inc

News | 9/12/2024

Valley Bank's New Jersey Commercial Banking Team Closes a $150 Million Syndicated Credit Facility to Green Thumb Industries Inc.

New York, NY - Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ: VLY), announces the closing of a $150 million five-year Senior Secured Term Loan Facility to Green Thumb Industries Inc . ("Green Thumb or the "Company") (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries . The Company intends to use the proceeds along with existing cash to retire its $225 million senior secured debt due April 30, 2025.

Valley is the Sole Lead Arranger, Sole Bookrunner, and Administrative Agent for the deal in conjunction with a tailored syndicate of bank market investors. The transaction was arranged, structured, undertaken, and syndicated by Valley's Syndications Team who led GTI's first syndicated transaction with an innovative structure and created a syndicate tailor-made to support GTI today and in the future.