Curaleaf has announced that it plans to raise US$500 million by issuing new debt in a private offering. The debt will take the form of senior secured notes that pay 11.5% annual interest and mature in February 2029.
Most of the money raised will be used to refinance Curaleaf's existing US$475 million in secured debt that is due in December 2026. The remaining funds will support the company's international growth plans and cover transaction costs. The notes will be issued at full face value and will not dilute existing shareholders. Interest will be paid twice a year. The notes are backed by company assets and include terms that allow Curaleaf to issue more notes in the future under certain financial limits, as well as take on up to US$100 million in senior bank loans.
The transaction is expected to close around February 18, 2026, subject to standard closing conditions.
© Curaleaf
"Strong demand from both new and existing investors has delivered a meaningfully oversubscribed Offering that refinances and surpasses our prior commitments, ranking this as the largest note offering in the U.S. cannabis industry to date. There are ten first time cannabis lenders committed in this transaction, which demonstrates the institutional investor confidence in the Curaleaf story buoyed by the exceptional marketing efforts of the placement agents led by Seaport Global Securities," said Boris Jordan, Chairman and CEO of Curaleaf. "This transaction strengthens our balance sheet, extends maturities to 2029, and provides ample flexibility to pursue high-return global growth opportunities, reinforced by our robust and consistent cash generation. With this strategic priority nearing completion, we are well positioned to execute on our long-term growth strategies with strong institutional backing."
For more information:
Curaleaf
[email protected]
curaleaf.com
