Vireo Growth lands $65M BMO-led credit line, expandable to $105M
What's the deal? Vireo Growth, a publicly listed cannabis company, has secured a $65 million senior secured asset-based revolving credit facility led by Bank of MontrealDealroom has a profile for this one. Try Dealroom →. Announced in August 2026, the five-year facility is expandable to $85 million and further to $105 million through a $20 million accordion feature. BMO Capital MarketsDealroom has a profile for this one. Try Dealroom → acted as arranger and bookrunner.
How it works: Borrowings bear interest at either Term SOFR plus a margin of 1.75% to 2%, or the base rate plus 0.75% to 1%, with the applicable margin set by average availability. The facility carries a 0.25% annual fee on undrawn commitments and is secured by substantially all assets of Vireo Growth's non-cannabis subsidiaries.
What's the money for? Proceeds may refinance existing subsidiary debt, fund working capital and capital expenditures, and finance permitted acquisitions.
Why now? Asset-based debt from a major bank provides Vireo Growth with a scalable source of capital as it integrates recently acquired businesses and supports its acquisition strategy.
Read more: Cannabis Business Times
Image credit: Vireo Growth
