LESAKA TECHNOLOGIES INC (LSAK): debt financing — Lesaka refinances existing debt with ZAR 3.86B in new facilities from FirstRand and Investec

LESAKA TECHNOLOGIES INC

Secured ZAR 2.156B term loan (Facility A) due 2029, margin 3.50% above JIBAR initially.
Secured ZAR 1.0B amortizing loan (Facility B) with four annual installments, margin 3.15% above JIBAR initially.
Obtained ZAR 700.9M general banking facility (GBF) at prime minus 0.50%, subject to annual review.
Full ZAR 2.156B drawn on Feb 28 to refinance existing RMB facilities; also used ZAR 1.0B to repay existing debt.
Covenants include net debt to EBITDA and interest cover ratios; pledge of Lesaka SA equity as collateral.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LESAKA TECHNOLOGIES INC incurred term loan of ZAR 1.0 billion with FirstRand Bank Limited (acting through its Rand Merchant Bank division), FirstRand Bank Limited (acting through its WesBank division), Investec Bank Limited at JIBAR plus an initial margin of 3.15% per annum until June 30, 2025 maturing four annual installments with final payment on February 28, 2029.

Instrument: term loan
Principal: ZAR 1.0 billion
Counterparty: FirstRand Bank Limited (acting through its Rand Merchant Bank division), FirstRand Bank Limited (acting through its WesBank division), Investec Bank Limited
Rate: JIBAR plus an initial margin of 3.15% per annum until June 30, 2025
Maturity: four annual installments with final payment on February 28, 2029
Event: incurrence

Exact text from the filing

Pursuant to the Facility B Agreement, Lesaka SA may borrow up to an aggregate of ZAR 1.0 billion for the sole purpose of refinancing the Lesaka SA existing facilities

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LESAKA TECHNOLOGIES INC incurred revolving credit of ZAR 700,901,000 with FirstRand Bank Limited (acting through its Rand Merchant Bank division).

Instrument: revolving credit
Principal: ZAR 700,901,000
Counterparty: FirstRand Bank Limited (acting through its Rand Merchant Bank division)
Event: incurrence

Exact text from the filing

("Lesaka"), its wholly-owned subsidiary, Lesaka Technologies Proprietary Limited ("Lesaka SA") and a number of other subsidiaries of Lesaka entered into a Common Terms Agreement the "CTA") with FirstRand Bank Limited (acting through its Rand Merchant Bank division) ("RMB"), FirstRand Bank Limited (acting through its WesBank division) ("WesBank"), FirstRand Bank Limited being a South African corporate and investment bank, Investec Bank Limited (acting through its Investment Banking division: Corporate Solutions) ("Investec" and together with RMB and WesBank, the "Lenders"), a South African corporate and investment bank), and Bowwood and Main No 408 (RF) Proprietary Limited ("Debt Guarantor"), a South African company incorporated for the sole purpose of holding collateral for the benefit of the Lenders and acting as debt guarantor, and certain other parties.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

LESAKA TECHNOLOGIES INC incurred term loan of ZAR 2,155,739,382 with FirstRand Bank Limited (acting through its Rand Merchant Bank division), FirstRand Bank Limited (acting through its WesBank division), Investec Bank Limited at JIBAR plus an initial margin of 3.50% per annum until June 30, 2025 maturing February 28, 2029.

Instrument: term loan
Principal: ZAR 2,155,739,382
Counterparty: FirstRand Bank Limited (acting through its Rand Merchant Bank division), FirstRand Bank Limited (acting through its WesBank division), Investec Bank Limited
Rate: JIBAR plus an initial margin of 3.50% per annum until June 30, 2025
Maturity: February 28, 2029
Event: incurrence

Exact text from the filing

Pursuant to the Facility A Agreement, Lesaka SA may borrow up to an aggregate amount of ZAR 2,155,739,382 for the sole purpose of refinancing the existing facilities

View on SEC.gov

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Source: SEC EDGAR

accession 0001062993-25-004555

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