Cresco Labs Inc. (CSE: CL) has announced the successful acquisition of commitments to refinance its senior secured credit facility, marking a significant step toward enhancing its financial stability and operational flexibility. The refinancing deal, which is set to replace the existing $360 million credit facility with a new $325 million senior secured term loan, will feature an interest rate of 12.5% per annum and mature on the fifth anniversary of the closing date. This restructuring comes at a time when access to capital in the U.S. cannabis sector is constricted, with approximately $2 billion in industry debt maturing over the next 18 months. Cresco's CEO, Charlie Bachtell, emphasized that this refinancing reflects the Company's solid business foundation and robust relationships with institutional lenders, allowing it to pivot from a focus on refinancing risks to strategic growth initiatives.