Flora - comment

Flora has completed the refinancing of its senior secured bank facilities, extending maturities to October 2030. Following these transactions, the next material maturity is the senior secured notes due in July 2029. Both the revolving credit facility and the bank facilities now mature ahead of the subordinated senior notes, which fall due in 2031.

Since acquiring the business in 2017, KKR has not extracted any dividends from Flora. Together with stated deleveraging plans, this will become a key area of management focus.