CIBC Provides New $70MM ABL for Alcanna
Alcanna entered into a new senior secured $70 million asset-based revolving credit facility with Canadian Imperial Bank of Commerce acting as the sole lender.
Alcanna entered into a new senior secured $70 million asset-based revolving credit facility with Canadian Imperial Bank of Commerce acting as the sole lender.
CIBC has added asset-based lending capabilities to its Cleveland office with the addition of Joe Panico as managing director of Business Development.
CIBC named Derek Rosenstrauch managing director of Business Development, Northern California Region, for its Asset-based Lending Group.
Broadwind Energy increased its credit line with CIBC, USA to $35 million, and extended the term of the facility for 3 years.
CIBC and Bank of Montreal provided a C$50 million ($38.075 million) term loan and a C$15 million ($11.423 million) revolving loan to HEXO, an international provider of cannabis products.
Pan American Silver increased its revolver by $200 million to $500 million. The facility was led by The Bank of Nova Scotia and the Canadian Imperial Bank of Commerce as joint lead arrangers and joint bookrunners.
Canadian Imperial Bank of Commerce acted as administrative agent on a $65 million secured non-revolving term loan credit facility for cannabis company Cronos Group. Bank of Montreal was a lender on the facility.
BMO acted as agent and lead lender on C$80 million ($60.2 million) in secured debt financing for Canopy Rivers’ joint venture, PharmHouse. CIBC and Concentra Bank also participated as lenders on the facility.
CIBC and TD Securities led the syndicate of banks on an amendment to Tervita’s senior secured revolving credit facility, increasing the maximum principal amount available by $75 million to $275 million.
Profound Medical entered a term loan agreement for up to $18.75 million in available borrowing capacity with CIBC Innovation Banking.