Khanya Cold Chain Business Plan — Appendix C: Funding and Debt Schedules
Facility-by-facility drawdown, interest and amortisation schedules across senior debt, the DFI tranche and the standby revolver.
Appendix C: Funding and Debt Schedules
Jump to section
- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. The Business
- 3. Market Analysis
- 4. The Energy Strategy
- 5. Facility and Location
- 6. SWOT and Competitive Position
- 7. Commercial Plan
- 8. Operations
- 9. Financial Plan
- 10. Break-Even and Debt Service
- 11. Investment Analysis
- 12. Risk Analysis
- 13. Implementation Roadmap
- 14. Key Performance Indicators
- 15. Key Assumptions
- 16. Conclusion and Recommendation
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Capital and Depreciation Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: Energy Model
- E. Appendix E: Risk Register
- F. Appendix F: Glossary
- C.1 Sources and uses
- C.2 Debt service schedule
C.1 Sources and uses
|
R |
Note |
|
|---|---|---|
|
Equity subscription |
56 390 000 |
52% of the requirement |
|
Senior debt facility |
34 000 000 |
Twelve-month capital moratorium |
|
DFI tranche |
18 000 000 |
Development finance with an agro-processing or energy-efficiency mandate |
|
Total funding |
108 390 000 |
|
|
Capital expenditure |
(89 800 000) |
Appendix B.1 |
|
Pre-opening cost and working capital |
(18 590 000) |
Appendix B.2 |
|
Total funding requirement |
(108 390 000) |
|
|
Surplus / (shortfall) |
0 |
The equity subscription is sized to close the requirement exactly |
|
Standby revolving facility |
12 000 000 |
Committed at first close; undrawn except R62 261 in Year 2 |
C.2 Debt service schedule
|
R |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Opening balance |
52 000 000 |
52 000 000 |
47 542 432 |
42 504 910 |
36 811 276 |
|
Interest charged |
6 310 000 |
6 064 539 |
5 484 585 |
4 828 473 |
4 086 120 |
|
Capital repaid |
— (moratorium) |
4 457 568 |
5 037 522 |
5 693 634 |
6 435 987 |
|
Closing balance |
52 000 000 |
47 542 432 |
42 504 910 |
36 811 276 |
30 375 289 |
|
of which senior facility |
34 000 000 |
30 812 171 |
27 184 317 |
23 055 702 |
18 357 204 |
|
of which DFI tranche |
18 000 000 |
16 730 261 |
15 320 592 |
13 755 573 |
12 018 084 |
|
of which current portion |
4 457 568 |
5 037 522 |
5 693 634 |
6 435 987 |
7 272 665 |
|
of which non-current portion |
47 542 432 |
42 504 910 |
36 811 276 |
30 375 289 |
23 102 624 |
|
Total debt service |
6 310 000 |
10 522 107 |
10 522 107 |
10 522 107 |
10 522 107 |
|
EBITDA |
1 418 599 |
12 106 622 |
19 056 921 |
23 914 935 |
26 819 815 |
|
Debt service cover |
0.22x |
1.15x |
1.81x |
2.27x |
2.55x |
|
Covenant |
1.30x |
1.30x |
1.30x |
1.30x |
1.30x |