FWIW, the good and the bad of this deal, IMHO
Good
Fully funded
modest interest rate
a good term for the loan
appears to be light on covenants
Bad
Keybridge involvement
Quantum of options
Ex price on options too low
Early repayment fees
On balance, I think it is less than optimal.
AL
Ann: $5m debt facility secured to deliver Odin gas to market, page-37
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