(This story has been updated with the announcement that Trulieve has completed its acquisition of Harvest Health & Recreation.)

Florida-based marijuana multistate operator Trulieve Cannabis announced it is on the verge of raising $350 million of capital through the private sale of five-year notes at an 8% annual interest rate.

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Trulieve said in a news release that it has received commitments for the senior secured notes and expects the deal to close Oct. 6, subject to conditions that include the approval of the Canadian Securities Exchange.

Separately, the company said it completed its acquisition of Arizona-headquartered Harvest Health & Recreation. When the all-stock purchase was announced in May, it was valued at $2.1 billion and billed as the largest U.S. marijuana transaction to date.

Despite the large acquisition, Trulieve has managed to keep its borrowing costs relatively low.

The 8% annual interest rate for the five-year notes is one of the lowest yet for a public MSO, and the $350 million raise is believed to be one of the biggest yet.

In general, large MSOs are enjoying lower interest rates on debt this year because of stronger balance sheets, improved liquidity and the sense that federal marijuana legalization is inevitable though perhaps not imminent.

Illinois-based Green Thumb Industries got what is believed to be the lowest annual interest rate for a public MSO this year of 7% on a $217 million, three-year loan.

Trulieve CEO Kim Rivers said in a statement that the financing will provide capital to retire a portion of Harvest’s higher-interest debt “and will allow us to use our combined cash on hand to aggressively pursue strategic growth initiatives across key markets.”