On 2nd Feb 2022 Petra announced that it had concluded a binding, credit approved term sheet for the refinancing of its first lien debt facility with its South African Lender Group, providing for more favourable terms than the Group’s current first lien facilities. The new facility was finalised during Q3 FY2022. For more information please read the announcement here.
Petra currently has access to the following debt facilities as agreed with its South African Lender Group:
|Facility Duration||R1,000m RCF|
|Lenders Margin||4 years (Dec-25), with a 60 day buffer between the redemption of the Notes and the maturity of the RCF|
|Commitment Fee||125 bps per annum|
These terms also provide improved flexibility on early Note redemption and coupon settlement.
|FY22 H2||FY23 H1||FY23 H2||FY24 H1||FY24 H2||FY25 H1||FY25 H2||FY26 H1|
|Net Debt : EBITDA Leverage ratio (maximum)||4.00||4.00||3.50||3.50||3.25||3.25||3.00||3.00|
|Interest Cover Ratio (minimum)||1.85||1.85||2.50||2.50||2.75||2.75||3.00||3.00|