MindWalk secures binding commitment for USD 30 million unsecured revolving credit facility from Sanabil Cayman
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The company said a definitive credit agreement is targeted within 60 days, consistent with the binding term sheet.
Key terms of the proposed facility
- Fixed 7% annual interest accrues only on drawn amounts.
- Initial term is 36 months, with a potential 12-month extension by agreement.
- There are no financial maintenance covenants, no warrants, no equity conversion feature, and no asset pledge.
- There is no material adverse change condition to closing.
- Borrowings are optional, repayments carry no penalty, and there is a one-time 1% opening fee with no unused line fee.
Binding commitment for revolving credit facility
MindWalk secured a binding commitment from Sanabil (Cayman) for a senior unsecured revolving credit facility of up to .
