In the details of the announcement. It's 1.1 mill pounds (about...

In the details of the announcement. It's 1.1 mill pounds (about 11% in total) for the loan over 4 yrs assuming draw downs at earliest available time (see below). Therefore on an annualised basis it equates to maybe around I dunno effectively pro rata ...blah blah blah... around 3 - 4% pa ?
The first draw down is 5 mill followed by 2 lots of 2.5 mill.
I've highlighted critical bits in bold to save the tedium of sifting through it ...

"Interest: Accruing quarterly, but all interest shall be paid in full on the Maturity Date. If the borrower obtains debt finance from a third party at a yield (i.e. fees, commission, interest rate and interest rate floor) that is higher than the rate payable to AXA, the interest rate on the Loan shall rise to match the yield paid to such third party.Assuming Tranches 1, 2 and 3 are drawn down at the earliest opportunity, the total Interest payable in the form of a one-off payment in Dec 2026 is c.£1.1m."

"The Loan is available in three tranches. Tranche 1 of £5m is available for 3 months from the initial entry into the loan,Tranche 2 of £2.5m is available for 3 months from 1 March 2023 and Tranche 3 of £2.5m is available for 3 months from 1 June2023, in each case provided certain conditions precedent are met."