debt
confidence high
sentiment neutral
materiality 0.65
Chicago Atlantic closes $50M unsecured term loan at 9.0%, rated BBB+ by Egan-Jones
Chicago Atlantic Real Estate Finance, Inc.
- Entered into $50M unsecured term loan maturing Oct 2028; fixed cash interest rate of 9.0% per annum.
- Egan-Jones assigned a BBB+ rating to both the Company (REFI) and the senior unsecured term loan.
- Full balance drawn at closing; used to repay existing borrowings on $110M senior secured revolver and for working capital.
- Loan is interest-only; can be prepaid whole or in part subject to prepayment penalties (3% in year 1, 2% in year 2).