A 1% fee is low which is good. I think most have miss calculated the margin/interest for the prepayment it's SOFR +11%, (SOFR = Secured overnight financing rate this is running at around 5.3% for a 3M term) there and the interest is 5.3%+11%=16.3%.
I'm not saying this is bad, that rate is pretty standard debt financing for a junior at this stage of a project. This will put some pressure on commissioning and ramp-up. But it does keep dilution down while the project is being valued so low.
A 1% fee is low which is good. I think most have miss calculated...
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