Tilray Brands, Inc. (TLRY): debt financing — Tilray subsidiary refinances CAD $53M term loan to CIBC; extends maturity to 2028

Tilray Brands, Inc.

Aphria Diamond Inc. entered a CAD $53M credit agreement with CIBC on Feb 21, 2025.
Proceeds repaid CAD $48.17M outstanding under prior BMO-led agreement due Nov 2025.
New term loan matures Feb 21, 2028; quarterly principal payments of CAD $2M begin Aug 2025.
Interest at 1-month Term CORRA plus 1.75% margin, adjustable quarterly based on leverage.
Covenants: fixed charge coverage >=1.25x, total funded debt <=2.75x; Tilray limited guarantee capped at CAD $60M.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Tilray Brands, Inc. incurred credit facility of aggregate principal amount equal to CAD $53,000,000 with Canadian Imperial Bank of Commerce, as Lender and Administrative Agent at one-month Term CORRA plus an applicable margin of 1.75% maturing February 21, 2028.

Instrument: credit facility
Principal: aggregate principal amount equal to CAD $53,000,000
Counterparty: Canadian Imperial Bank of Commerce, as Lender and Administrative Agent
Rate: one-month Term CORRA plus an applicable margin of 1.75%
Maturity: February 21, 2028
Event: incurrence

Exact text from the filing

On February 21, 2025, Aphria Diamond Inc. (the “Borrower”), a majority-owned subsidiary of Tilray Brands, Inc., a Delaware corporation (“Tilray”), refinanced its existing term loan by entering into a new Credit Agreement (the “Credit Agreement”), by and among Tilray and certain other affiliates of the Borrower and Canadian Imperial Bank of Commerce, as Lender and Administrative Agent (the “Lender”). The Credit Agreement provides for term loans in an aggregate principal amount equal to CAD $53,000,000 (the “Term Loans”).

View on SEC.gov

Browse all debt financings →

Tilray Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-25-005242

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.