GLAS News

June 10, 2021

GLAS Americas Appointed Trustee and Escrow Agent on HEXO Corp’s Convertible Debenture Issuance

June 2021, New York

GLAS Trust Company LLC was recently appointed as Trustee and GLAS Americas LLC as Escrow Agent for HEXO Corp $360 million convertible debenture issuance.

HEXO Corp., through its subsidiaries, is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market.

“We are thrilled to have completed yet another transaction in the cannabis space with a successful, publicly traded corporation,” said Martin Reed, Senior Vice President. “GLAS is proud to be a market leader in agency services for companies in the cannabis sector.”

The GLAS deal team comprised of Martin Reed, GLAS Americas Senior Vice President, Lisha John, Vice President – Transaction Management, Diana Gulyan, Assistant Vice President – Transaction Management, and Serena Harrell, Assistant Vice President – Client Services.

GLAS Americas has also recently been appointed Trustee for Innovative Industrial Properties, Inc.’s $300 million 144A Notes offering of 5.50% Senior Unsecured Notes due 2026, and Trustee and Collateral Agent for Turning Point Brands, Inc. $250 million 5.625% Senior Secured Notes due 2026. Both companies are key players in the North American cannabis industry.

About GLAS

Global Loan Agency Services Limited was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market. GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of EUR 100bn of assets under administration on a daily basis. For more information, please contact media@glas.agency.

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