Other DebtExpiredBTC
Two Prime BTC-Backed Credit Facility
Two Prime Credit Facility
$12.82▲ 5.34%
BTC Holdings
13,561 BTC
Total Debt
$1.81B
Leverage
124.3%
mNAV
3.01x
Outstanding
$0.00
Issue date
2025-09-19
Principal
$100.00M
Coupon
—
Maturity
2026-09-14
Conversion price
—
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Secured
- Facility type
- Revolving
- Payment frequency
- Monthly
- Rate type
- Floating
- Rate reference
- 1-month Term SOFR + 355 bps
- Collateral
- BTC-collateralized; 160% collateralization (62.5% LTV); non-rehypothecated, segregated custody
- Covenants
- Initial max LTV 62.5%; margin call at LTV > 74%; liquidation at LTV > 80%
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-09-30 | — | $0.00 |
| 2025-09-19 | Issuance | $100.00M |
- 2025-09-30 — $0Note 13 — Indebtedness
- 2025-09-19 — $100,000,000