Mainstreet Brick Business Plan — Appendix C: Funding and Debt Schedules
Facility-by-facility drawdown, interest and amortisation schedules across development finance and equipment finance.
Appendix C: Funding and Debt Schedules
Jump to section
- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. The Unit Economics of Brick Making
- 3. Market Analysis
- 4. Products and Positioning
- 5. SWOT and Competitive Position
- 6. Site, Plant and Production
- 7. Route to Market and Sales Strategy
- 8. Regulatory, Environmental and Quality Compliance
- 9. Management and Organisation
- 10. Capital Requirement and Funding
- 11. Financial Projections
- 12. Break-Even Analysis
- 13. Debt Service and Working Capital
- 14. Investment Returns
- 15. Sensitivity and Scenario Analysis
- 16. Value Creation Levers
- 17. Risk Management
- 18. Implementation Timeline
- 19. Conditions for Success and Exit Options
- 20. Key Performance Indicators
- 21. Key Assumptions
- 22. Conclusion
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Capital and Depreciation Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Glossary
- C.1 Sources of funds
- C.2 Development finance term loan — R8.50m at 11.5%
- C.3 Asset-based equipment finance — R3.61m at 13.0%
- C.4 Combined debt service and cover
C.1 Sources of funds
|
Source |
Amount (R) |
% of total |
Rate |
Term |
|---|---|---|---|---|
|
Promoter and investor equity |
6 300 000 |
31.2% |
— |
Ordinary shares |
|
Development finance term loan |
8 500 000 |
42.1% |
11.5% |
7 years, 12-month capital moratorium |
|
Asset-based equipment finance |
3 614 000 |
17.9% |
13.0% |
5 years amortising |
|
Committed working capital facility |
1 800 000 |
8.9% |
12.5% |
Revolving; drawn at commissioning |
|
Total funding |
20 214 000 |
100.0% |
C.2 Development finance term loan — R8.50m at 11.5%
|
R’000 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Opening balance |
8 500 |
8 500 |
7 439 |
6 257 |
4 938 |
|
Interest charged |
978 |
978 |
856 |
720 |
568 |
|
Capital repaid |
— (moratorium) |
1 061 |
1 183 |
1 319 |
1 470 |
|
Closing balance |
8 500 |
7 439 |
6 257 |
4 938 |
3 467 |
C.3 Asset-based equipment finance — R3.61m at 13.0%
|
R’000 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Opening balance |
3 614 |
3 056 |
2 426 |
1 714 |
909 |
|
Interest charged |
470 |
397 |
315 |
223 |
118 |
|
Capital repaid |
558 |
630 |
712 |
805 |
909 |
|
Closing balance |
3 056 |
2 426 |
1 714 |
909 |
— |
C.4 Combined debt service and cover
|
R’000 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Total interest |
1 672 |
1 600 |
1 396 |
1 167 |
911 |
|
Total capital repaid |
558 |
1 691 |
1 895 |
2 123 |
2 380 |
|
Total debt service |
2 230 |
3 291 |
3 291 |
3 291 |
3 291 |
|
Debt outstanding at year end |
13 356 |
11 665 |
9 771 |
7 647 |
5 267 |
|
Less cash |
(2 608) |
(2 034) |
(2 557) |
(3 342) |
(4 214) |
|
Net debt |
10 748 |
9 632 |
7 214 |
4 306 |
1 054 |
|
EBITDA |
2 005 |
3 440 |
4 701 |
5 219 |
5 319 |
|
Debt service cover ratio |
0.90x |
1.05x |
1.43x |
1.59x |
1.62x |
|
Net debt to EBITDA |
5.36x |
2.80x |
1.53x |
0.82x |
0.20x |
|
Gearing |
72.3% |
68.1% |
58.3% |
46.3% |
32.4% |