Other DebtExpired
Senior Secured First Lien Revolving Credit Facility
VIRT-RCF27
$49.55▲ 2.97%
BTC Holdings
1,859 BTC
Total Debt
$2.03B
Leverage
707.5%
mNAV
28.88x
Outstanding
$0.00
Insufficient history
Issue date
2024-06-21
Principal
$300.00M
Coupon
—
Maturity
2027-06-21
Conversion price
—
- Appears undrawn as of Dec 31, 2025 based on balance sheet reconciliation
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured first lien
- Facility type
- Revolving
- Payment frequency
- Quarterly
- Rate type
- Floating
- Rate reference
- SOFR + 250 bps, floor 0%; commitment fee 0.50% on unused (step-downs to 0.375%/0.25% based on first lien leverage ratio)
- Collateral
- First-priority lien on substantially all assets of VFH and guarantors; pari passu with Senior Notes and Term Loans
- Covenants
- Springing net first lien leverage ratio test when revolving usage exceeds specified threshold. Same incurrence-based covenants as term loan.
- Prepayment
- Freely drawable and repayable. No prepayment penalties.
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2024-06-21 | Issuance | $0.00 $300M facility established; appears undrawn |
- 2024-06-21 — $0Item 1.01