XTXFX Business Plan — Appendix C: Funding and Debt Schedules
Facility-by-facility drawdown, interest and amortisation schedules across equity rounds and the senior receivables facility.
Appendix C: Funding and Debt Schedules
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- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Market Context and Opportunity
- 3. Regulatory Framework and NCR Registration
- 4. Products and Pricing
- 5. SWOT and Competitive Position
- 6. Credit Policy and Risk Management
- 7. Technology and Operations
- 8. Go-to-Market
- 9. Governance and Team
- 10. Financial Plan
- 11. Funding Structure and Capital
- 12. Break-Even and Credit Sensitivity
- 13. Sensitivity and Scenario Analysis
- 14. Risk Management
- 15. Implementation Roadmap
- 16. Investor Returns and Exit
- 17. Key Performance Indicators
- 18. Key Assumptions
- 19. Conclusion
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Unit Economics and Volume Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: NCR Registration Checklist
- E. Appendix E: Risk Register
- F. Appendix F: Glossary
- C.1 Sources of capital
- C.2 Debt schedule and cover
C.1 Sources of capital
|
Source |
Amount |
Timing |
Terms |
|---|---|---|---|
|
Seed equity |
R45.0m |
At close |
Ordinary shares |
|
Series A equity |
R85.0m |
Year 3 |
Ordinary shares, on two full vintages of demonstrated performance |
|
Senior debt facility |
R131.5m at peak |
From Year 2 |
14.0% a year, drawn against eligible receivables |
|
Total capital at peak |
R261.5m |
C.2 Debt schedule and cover
|
R million |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Equity raised in the year |
45.0 |
— |
85.0 |
— |
— |
|
Cumulative equity raised |
45.0 |
45.0 |
130.0 |
130.0 |
130.0 |
|
Senior debt drawn at year end |
— |
34.3 |
10.2 |
72.0 |
131.5 |
|
Movement in the year |
0.0 |
34.3 |
(24.0) |
61.8 |
59.5 |
|
Interest expense on the average balance |
— |
2.4 |
3.1 |
5.8 |
14.2 |
|
Effective rate on the average balance |
— |
14.0% |
14.0% |
14.0% |
14.0% |
|
Gross loan book |
13.2 |
54.0 |
121.9 |
201.3 |
283.6 |
|
Debt as a share of the gross book |
— |
63.4% |
8.4% |
35.8% |
46.4% |
|
Shareholders’ funds |
33.9 |
23.5 |
109.1 |
120.0 |
136.0 |
|
Gearing |
— |
59.4% |
8.6% |
37.5% |
49.2% |
|
EBITDA to interest expense |
n/m |
n/m |
1.64x |
3.22x |
2.33x |
|
Closing cash |
17.5 |
5.0 |
5.0 |
5.0 |
5.0 |