Other DebtActiveBTC
7.5%+3ME Senior Secured Bond due 2029
SRAG-Nov29
BTC Holdings
87 BTC
Total Debt
€35.34M
Leverage
627.7%
mNAV
40.81x
Outstanding
€20.00M
Insufficient history
Issue date
2024-11-04
Principal
€20.00M
Coupon
9.66%
Maturity
2029-11-04
Conversion price
—
- ISIN NO0013364398. EUR 2M held by SAG plc itself.
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior Secured
- Payment frequency
- Quarterly
- Payment dates
- Feb 5, May 5, Aug 5, Nov 5
- Rate type
- Floating
- Rate reference
- 3M Euribor + 750 bps, floor on total coupon
- Collateral
- LP-stakes acquired by Guarantor (~EUR 130-140M), BTC/ETH/stablecoin securities accounts, intra-group loans, Minimum Liquidity Account. Guarantor: Samara Asset Holdings Limited (SPV)
- Covenants
- Total LTV < 35% (Total Net Interest Bearing Debt / NAV), Secured LTV < 35% (Net Bond Debt / Limited NAV), Minimum Liquidity >= 0.5 years interest payments. 14-day grace, 120-day cure.
- Prepayment
- Make-whole for first 2.5 years; then callable at par + declining premium: 50/40/30/20/10% of coupon after 30/36/42/48/54 months. Change of control put at 101%.
Sources(2)
- Consolidated Financial St…FilingConsolidated Financial Statements (Year End 31 Dec 2024)Note 18 — Debt Securities in IssueSamara Asset Group plc — 2025-06-26
- EUR 30M Nordic Bond Annou…Press ReleaseEUR 30M Nordic Bond AnnouncementSamara Asset Group plc — 2024-10-14
Participants
Holders & Underwriters(1)
- EUR 30M Nordic Bond Annou…Pareto Securities ASunderwriter€20Mas of 2024-11-01Sole manager and arranger
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-11-04 | Issuance | €20.00M | Consolidated Financial St… |
- 2024-11-04 — €20,000,000Note 18 — Debt Securities in Issue — filing — Samara Asset Group plcSource