Aurora Cannabis second amends, restates credit facility

By Taylor Fox

New York, Dec. 16 – Aurora Cannabis Inc. reached an agreement regarding a second amended and restated credit facility with its syndicate of lenders, according to a news release.

The agreement provides Aurora with greater financial flexibility to execute the business transformation plan by transitioning the facility to a minimum liquidity covenant rather than a minimum EBITDA covenant and extends the maturity to Dec. 31, 2022.

The commitment amount will remain C$101.2 million under the term loan and C$15 million under the revolver, of which C$2 million is currently drawn.

The second amended and restated credit facility has a first ranking general security interest in the assets of Aurora and can be repaid without penalty at the company's discretion.

With C$450 million in cash on hand as of Dec. 15, Aurora said it is confident in its liquidity position.

Aurora Cannabis is an Edmonton, Alta.-based cannabis company.

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