08:48 AM EDT, 09/12/2024 (MT Newswires) -- Valley National Bancorp's ( VLY ) Valley National Bank unit said Thursday it has closed a $150 million five-year senior secured term loan facility to cannabis consumer packaged goods company Green Thumb Industries.

Green Thumb plans to use the proceeds together with existing cash to retire its $225 million senior secured debt due April 30, Valley National Bank said.