Other DebtActive
Sygnum Bank BTC-Collateralized Credit Facility
DMGI-Sygnum
BTC Holdings
398 BTC
Total Debt
C$12.99M
Leverage
28.0%
mNAV
1.30x
Outstanding
$9.40M
Issue date
2024-02-15
Principal
$19.00M
Coupon
8.50%
Maturity
—
Conversion price
—
- Rate increased from 7.8% to 8.5% in July 2024 when facility expanded from US$9M to US$19M
- Indefinite term; Sygnum may terminate at any time, at which point loan is due immediately
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Secured (BTC-collateralized)
- Facility type
- Revolving
- Rate type
- Fixed
- Collateral
- BTC-collateralized; 295 BTC pledged and deposited with Sygnum Bank
- Covenants
- Company may be required to provide additional BTC collateral to restore security margin on the loan
- Prepayment
- DMG may repay at any time without penalty
Sources(2)
- Sygnum Bank Credit Facili…Press ReleaseSygnum Bank Credit Facility AnnouncementDMG Blockchain Solutions Inc. — 2024-02-15
- December 2024 Mining Resu…Press ReleaseDecember 2024 Mining Results and Year in ReviewFacility expansion to US$19M and 295 BTC collateralDMG Blockchain Solutions Inc. — 2025-01-06
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-09-30 | Draw | $9.40M US$9.4M drawn as of Sep 30, 2024 | December 2024 Mining Resu… |
| 2024-02-15 | Draw | $5.60M First financing tranche of US$5.6M disbursed | Sygnum Bank Credit Facili… |
- 2024-09-30 — $9,400,000press_release — DMG Blockchain Solutions Inc.Source
- 2024-02-15 — $5,600,000press_release — DMG Blockchain Solutions Inc.Source