---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-036769"
form_type: "8-K"
ticker: null
cik: "0001576914"
company_name: "MiX Telematics Ltd"
filed_at: "2024-03-20T23:59:59+00:00"
generated_at: "2026-06-04T11:36:35.969602+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# MiX Telematics secures R350M committed credit facility from FirstRand Bank

## Summary
- Facility of R350M (ZAR) with 365-day availability from FirstRand Bank at prime minus 0.75%.
- Facility is senior, secured, and ranks pari passu with other senior debt; repayable by earlier of availability end or April 2, 2025.
- Credit agreement supports MiX's pending acquisition by PowerFleet (previously disclosed); guaranteed by PowerFleet and its subsidiaries.
- Monthly commitment fee on unused portion: 85bps (0-40% util.), 65bps (40-80%), 45bps (>80%).
- Obligations secured by first-priority security over PowerFleet subsidiaries' share capital.

## SEC filing metadata
- accession: 0001104659-24-036769
- form_type: 8-K
- cik: 0001576914
- company_name: MiX Telematics Ltd
- filed_at: 2024-03-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1576914/000110465924036769/0001104659-24-036769-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1576914/000110465924036769/tm249353d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-036769
- JSON: https://secwatch.observer/filing/0001104659-24-036769.json
- Plain text: https://secwatch.observer/filing/0001104659-24-036769.txt

## Key facts
- Debt Financings
  MiX Telematics Ltd incurred credit facility of R350,000,000 with FirstRand Bank Limited at South African prime rate minus 0.75% per annum maturing the earlier of the end of the Availability Period or April 2, 2025.
  - Instrument: credit facility
  - Principal: R350,000,000
  - Counterparty: FirstRand Bank Limited
  - Rate: South African prime rate minus 0.75% per annum
  - Maturity: the earlier of the end of the Availability Period or April 2, 2025
  - Event: incurrence
  source text: on March 14, 2024, the Company entered into a Facility Letter and Standard Terms and Conditions (collectively, the “Credit Agreement”) with FirstRand Bank Limited (the “Bank”) as lender, pursuant to which the Bank agreed to provide the Company with a 365-day committed general credit facility of R350,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1576914/000110465924036769/0001104659-24-036769-index.htm
- Material Agreements
  MiX Telematics Ltd entered into Credit Agreement with FirstRand Bank Limited valued at R350,000,000 (effective 2024-03-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: FirstRand Bank Limited
  - Value: R350,000,000
  - Effective: 2024-03-14
  source text: on March 14, 2024, the Company entered into a Facility Letter and Standard Terms and Conditions (collectively, the “Credit Agreement”) with FirstRand Bank Limited (the “Bank”) as lender, pursuant to which the Bank agreed to provide the Company with a 365-day committed general credit facility of R350,000,000 (the “Committed Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1576914/000110465924036769/0001104659-24-036769-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.