Revolving Credit Facility

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Brait’s revolving credit facility held by its subsidiary Brait Mauritius Limited (the “BML RCF”) is secured on a senior basis by the assets of BML

Key Terms  
Facility Commitment • R3,010 million with tenure to 30 June 2024
• Facility commitments to reduce by agreed % of proceeds received from portfolio company disposals and refinancings
• All proceeds must be mandatorily prepaid to the facility
Margin • Margin for facility will be 400 bps on JIBAR, payable quarterly with a right to rollup
• The margin is subject to downward margin ratchet based on total commitments as Brait de-gears:
    • 80bps reduction whilst commitments <= R2.0bn
Covenants Covenants are NAV based and set with sufficient headroom for short term volatility
   
As at 30 September 2022  
Facility Commitment • R3,010 million with tenure to 30 June 2024
Margin • Interest margin 400 bps on JIBAR, payable quarterly with a right to rollup
   
During November 2022  
Facility Commitment • R2,548 million (1) with tenure to 30 June 2024
Margin • Interest margin 400 bps on JIBAR, payable quarterly with a right to rollup
 
(1) Reduced by R462m (50% of the R924m distribution received in November 2022 from Premier).