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High Tide signs term sheet for $40 million credit facilities with Big 5 Canadian bank

PUBT·05/05/2026 10:05:08
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High Tide signs term sheet for $40 million credit facilities with Big 5 Canadian bank
  • High Tide signed term sheet for USD 40 million in new senior secured credit facilities with one of Canada’s Big 5 chartered banks, set to replace existing senior credit facility with connectFirst Credit Union.
  • Closing expected within 60 days, subject to customary conditions; bank name to be disclosed at closing.
  • Financing includes USD 25 million committed revolver with three-year maturity, intended to refinance connectFirst loan and support working capital and acquisitions; connectFirst balance expected slightly above USD 6 million at closing.
  • Package also includes USD 15 million committed delayed-draw term loan to refinance existing USD 15 million second-lien debentures, amortizing over seven years.
  • Pricing set to float between Prime + 2% and Prime + 3%, tied to leverage; covenants include senior funded debt/EBITDA below 2x and total funded debt/EBITDA below 3x.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. High Tide Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: CA51173) on May 05, 2026, and is solely responsible for the information contained therein.