Canopy Growth Raises $750 Million Term Loan Financing

Paul, Weiss advised Canopy Growth Corporation in its credit agreement with funds advised by King Street Capital Management, L.P. Under the terms of the agreement, Canopy Growth has raised a $750 million senior secured term loan, and has the ability to obtain up to an additional $500 million of incremental senior secured debt. Proceeds will be used by Canopy Growth for working capital and general corporate purposes, including without limitation, growth investments, acquisitions, capital expenditures and strategic initiatives.

The Paul, Weiss team included, among others, corporate partner Andrew Foley and counsel Gabriella Toossi; intellectual property partner Claudine Meredith-Goujon; tax partner Patrick Karsnitz; real estate partner Salvatore Gogliormella; restructuring counsel Diane Meyers; and environmental counsel William O'Brien.