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GBR

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GBR

Re: GBR post# 9642

Wednesday, 11/08/2023 11:15:16 AM

Wednesday, November 08, 2023 11:15:16 AM

Post# of 11089
Yeah, so the current interest cost today is 1.75%. This one is going to go up just on the new debt facility. It'll be a SOFR, so call it prime, plus 850 basis points. It'll be a four-year loan, so 2027. And the covenants, while the minimum liquidity covenant, that'll be pegged at $15 million of consolidated cash.


So they have to keep a minimum of 15M in cash at all times during the term of the debt facility. But according to the SEC filing, they have to have 55M in unencumbered cash on the BS in order to get the debt facility. My take.
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