Other DebtActive
Sygnum Bank Term Loan
SATO-Syg26
0.10 CAD▼ 13.64%
BTC Holdings
7 BTC
Total Debt
C$5.87M
Leverage
772.7%
mNAV
13.50x
Outstanding
3.14M CHF
Issue date
2023-07-19
Principal
6.79M CHF
Coupon
9.50%
Maturity
2026-07-19
Conversion price
—
- Refinanced from original CHF 3,000,000 loan (Jul 2022, 8% interest)
- Forbearance Dec 2025: 3-month grace period commencing Nov 2025
- New forbearance Mar 26, 2026 (FY25 audited Note 18): grace period extended Nov 1 2025-Sep 30 2026; conditional on transferring all BTC holdings to lender-controlled accounts and directing all future mining proceeds to lender accounts; US$500K debt reduction required by Jun 30 2026 plus another US$500K by Sep 30 2026
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Secured
- Facility type
- Term loan
- Rate type
- Fixed
- Collateral
- Hash-rate backed (bitcoin mining computational power)
Outstanding History
Outstanding history(3)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | — | 3.14M CHF Period-end balance; principal/interest payments suspended under the forbearance agreement |
| 2025-12-31 | periodic repayment | 3.04M CHF Down from CAD$5,770,276 at Dec 31 2024 after CAD$3,276,957 of repayments during 2025. Loan classified entirely as current at year-end (matures Jul 2026, but reclassified to non-current in subsequent forbearance — see post-balance-sheet note). |
| 2023-07-19 | Issuance | 6.79M CHF |
- 2026-03-31 — 3,137,875 CHFNote 10 — Borrowings
- 2025-12-31 — 3,041,001 CHFNote 10 — Borrowings
- 2023-07-19 — 6,790,000 CHF