Other DebtExpiredBTC
Silvergate BTC-Collateralized Term Loan
MSTR-SG25
$183.80▲ 3.74%
BTC Holdings
818,334 BTC
Total Debt
$19.61B
Leverage
9.1%
mNAV
0.98x
Outstanding
$0.00
Issue date
2022-03-23
Principal
$205.00M
Coupon
3.70%
Maturity
2025-03-23
Conversion price
—
- Borrower: MacroStrategy LLC (wholly-owned subsidiary)
- Lender: Silvergate Bank
- Voluntarily prepaid in full on Mar 24, 2023 (~$161M payoff amount)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior secured
- Facility type
- Term loan
- Rate type
- Floating
- Rate reference
- SOFR 30-Day Average + 3.70%, floor 3.75%
- Collateral
- Bitcoin held by MacroStrategy LLC (LTV ratio < 50%, required >$410M BTC collateral)
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2023-03-24 | Repayment | $0.00 Voluntarily prepaid in full (~$161M payoff amount) |
| 2022-03-23 | Issuance | $205.00M |
- 2023-03-24 — $0Note 8 — Long-term Debt
- 2022-03-23 — $205,000,000Item 2.03