Hi Gammat,
Its easy to down play my math skills without advising where you think I have gotten the calculation wrong.
Trench A US$20mil - 14% interest margin plus the SOFR rate of 5.09% = 19.09%
Trench B US$5mil - 16% interest margin plus the SOFR rate of 5.09% = 21.09%
When you consider Gemcorp is also entitled to a free margin, (that hasn't been disclosed) The true rate Gemcorp is entitled to would exceed the 20%.
Anyway Great ramping of this deal, no doubt you guys need to reduce your holdings when there are no free margins expected in the next 12 months,
Ann: Lindi Jumbo and Gemcorp execute final US$20m debt facility, page-134
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