Aphria Secures $25 Million Loan From WFCU Credit Union

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CANADA: Aphria has secured $25 million in debt financing from WFCU Credit Union, according to a company press release. The five-year term loan bears interest at 4.68%, has a 15-year amortization and was entered into on July 27, 2018. This is the second round of debt-financing secured by the Company from WFCU, having previously secured a $25 million five-year loan on May 9, 2017.

Aphria Secures $25 Million Loan From WFCU Credit Union

Aphria Secures $25 Million Loan From WFCU Credit Union

“We are delighted to once again have the support of WFCU Credit Union as Aphria continues to execute on its long-term strategic plan,” said Vic Neufeld, Chief Executive Officer at Aphria. “Our diversified approach to innovation, strategic partnerships and global expansion are driving long-term shareholder value, and as our company and industry evolve we are always looking for opportunities to normalize our debt to equity structure.”

The term loan is secured by a first charge on the Company’s real estate holdings, and a first position on a general security agreement including cash, accounts receivable and inventory.

Read full article @ Aphria

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