AlTi Global, certain of its subsidiaries and AlTi Global, as borrower, entered into a credit agreement Oct. 19 with Diameter Finance Administration as administrative agent and collateral agent, and the lenders party to the agreement.
The agreement provides for an $85 million senior secured credit facility consisting of $60 million of term loan commitments, including $32 million of delayed draw term loan commitments, and a $25 million revolving credit facility. The delayed draw commitments generally remain available for up to 24 months after the closing date, subject to the agreement’s terms and conditions.
Borrowings bear interest, at the borrower’s election, at a rate based on either Adjusted Term SOFR plus 5.25% or the Base Rate plus 4.25%. The agreement matures Oct. 19, 2032.
AlTi Global and certain of its subsidiaries guarantee the obligations, which are secured by substantially all of the assets of the applicable credit parties, subject to customary exclusions and limitations. The agreement also contains customary affirmative and negative covenants, financial covenants and events of default.
